FTSE 100 starts the week higher; Retokil jumps on takeover reports as Ryanair falls – Market Report [Video]

The FTSE 100 rebounded after the shock of Friday’s IT outage while Joe Biden stepping down from the US Presidential race has had little impact.

In early trades, the Footsie was up 41 points at 8,197 with pest control specialist Rentokil initially 12% higher and leading the way on reports it is in the sights of Philip Jansen, the former BT boss. Jansen is said to be lining up a bid with private equity backing.

Ryanair sent airlines into a tailspin with a warning that fares this summer would be materially lower alongside a drop in profits. Rival EasyJet got caught in the turbulence and is down almost 7%.

Bookmaker Entain is doing better after the Ladbrokes owner appointed former DraftKings man Gavin Issacs as its new chief executive while Vodafone has sold another chunk of mobile tower business Vantage, raising €1.3 billion.

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