Low cost carrier EasyJet (EZJ) falls 4.1% to £13.46 after revealing fares pressure. The Luton-based airline's interim update says extra capacity at Gatwick is to blame, although investors are also unimpressed by a below expectations sales outlook.

Home improvement giant Kingfisher (KGF) slumps more than 6.5% to 314.1p as a downbeat second quarter trading update drives downgrades. This is the second quarter in a row to flop after its weather-boosted first quarter update disappointed.

A steady-as-she-goes interim report from Reed Elsevier (REL) propels the academic journals giant to the top of the FTSE 100 leader board, up 2.5% to 966p. The company reports that it is in line to meet full-year expectations, but after a strong year-to-date gain analysts are questioning its valuation versus blue-chip publishing peer Pearson (PSON). ‘Our publisher view changed in April 2014 as we stepped Pearson up to Buy and maintained Hold on Reed,' explains David Reynolds of Jefferies.

Blue tooth semiconductor developer CSR (CSR) falls a little more than 4% to 558p on weak second quarter results. Core camera, gaming and automotive segments have faced struggles, while the company's 'voice and music revenues faced tough comparatives after enjoying strong sales in China last year,' says finnCap's Lorne Daniel. But profitability continues to improve, with record underlying gross margins of 57.5% substantialy up from last's year's 52.6%.

Magnum ice creams-to-Hellmann's mayonnaise maker Unilever (ULVR) loses 2.05% at £26.28 as its first-half results statement gets the thumbs down. CEO Paul Polman reports healthy underlying sales growth, though operating profits fell €209 million to €3.4 billion after a €413 million currency hit. The boss also flags a further slowdown in emerging markets, notably Asia and warns developed markets 'are not yet picking up'.

Branded soft drinks business Nichols (NICL:AIM), whose competitive strengths Shares highlighted in May, nudges 7p higher to 942.5p on half-year results. The figures show plenty of fizz with pre-tax profit, stripping out exceptionals, up 11% to £10 million and the shareholder reward rises 12% to 7.1p.

Out-of-favour sweeteners giant Tate & Lyle (TATE) sours 15.75p (2.4%) to 646.75p as it flags a testing first quarter. A prolonged winter in the US, the unexpected shut down of its Singaporean 'SPLENDA Sucralose' sweeteners factory and foreign exchange headwinds are blamed.

Issue Date: 24 Jul 2014