A turbulent trading day for budget airline Wizz Air saw it rise from a loss of 8 percent to an increase of more than 8 percent in just a few hours.
At the start of trading, the shares fell after it reduced the profit guidance from £ 270 million to £ 296 million to £ £ 235 million and £ 261 million.
Traders fell into the shoes because it blamed higher fuel costs and summer strikes for creating a challenging environment, although the profit for the six months ended September reached a record of £ 254.7 million.
But as the day progressed, the share price started to rise and the day ended at 8.4 percent, or 223p, higher at 2890p.
Bumpy ride: At the start of trading, Wizz Air's shares fell sharply after lowering profit guidance. But as the day progressed, the shares began to rise and they ended 8.4 percent higher at 2890p
Part of this may be due to the fact that investors have read the announcement from Wizz Air.
The airline said it was convinced that the profit would grow further in 2020, because new aircraft are being driven that use 16 percent less fuel than the current fleet.
Chief executive Jozsef Varadi added that Wizz's ultra-low cost business model offers a significant competitive advantage in an environment with higher fuel prices & # 39 ;, because customers will flock to cheap flights.
US investors may also have contributed to the price change when they started trading later in the day.
Market players on the other side of the pond have watched the European budget companies carefully.
Stock Watch – Innovaderma
Shares in fake brown and hair product maker Innovaderma sank despite a promising update.
The maker of Skinny Tan and Roots had previously only been able to sell his products in Superdrug because of an exclusivity agreement.
But this is coming to an end and from March they will be sold in Tesco and about 1,250 Boots stores, making the network go from 800 to 2,400.
This would have to lift revenue for the full year, ending in 2019 June, by 31 percent to £ 14m. Nevertheless, the shares fell by 17.3 percent or 21p, to 100.5p.
The sector found it good in the US, where the low-cost flight concept began and investors would like to take advantage of any declines in the share price.
But the cybersecurity company Sophos Group was less fortunate and paid the price yesterday to investors, because it saw £ 634 million disappear from its market value.
Shareholders had high expectations of the technology company at the beginning of the year.
When it released its 2018 results in May, Sophos said it expected a growth of billions of about 15 percent in the next financial year.
But so far, invoices have increased by only 3 percent to £ 269 million.
There were warning signs when Sophos released an update for the first quarter in July.
The company then revealed that the performance of billing was disappointingly low. They said the WannaCry cyber attack had boosted demand for its products in 2017 and made it a particularly difficult period to compare.
Yet large companies such as British Airways and Facebook have had data leaks this year and Sophos does not seem to have benefited from it in the past six months to September.
Its shares plummeted by 29 percent, or 132.6p, to 324p, which is the largest one-day decline in the three years it is listed on the London Stock Exchange.
The company is now 44.3 percent lower than in January of this year.
The FTSE 100 climbed as a profit for the Democrats in the American mid-term elections this week. They helped the miners to lift the blue-chip index, because commodities, which are usually priced in dollars, became cheaper for other countries to buy.
Metal miner Fresnillo rose by 3.6 percent, or 31p, to 902p.
In turn, the FTSE 100 helped increase 1.1 percent, or 76.6 points, to 7117.28 points.
NMC Health, a private hospital company based in the United Arab Emirates, was the biggest riser on the blue-chip index because it revealed that it was planning to issue a bond.
The share price of the company grew as a result and rose by 4.3 percent (or 144p) to 3500p.