IAG’s slump fails to knock the UK stock market as FTSE 100 rises

Household goods conglomerate Reckitt Benckiser led the FTSE 100 to close fractionally up by 0.25 per cent today, slightly lower than last week but floating above Wednesday's dip.

Reckitt Benckiser crept up by 3.09 per cent, having had a tough week since its trading update.

But International Consolidated Airlines Group (IAG), holding company of Aer Lingus, British Airways, Iberia and Vueling, dragged down the FTSE 100 index after it revealed disappointing revenue growth per available seat. It closed down 6.94 per cent.

Read more: Business services provider TMF Group ditches float as private equity firm CVC makes winning €1.75bn bid

Newspaper distributor Connect Group and oil and gas exploration company Soco International both boosted the FTSE all-share, as senior management members in each company scooped up shares in their own firm.

In mirrored symmetry, Berkeley ended the day down 3.45 per cent as bosses sold £50m worth of shares.

Meanwhile across the pond, data revealed the US economy smashed growth consensus forecasts.

In Spain, matters looked less settled as Catalonian separatists voted for independence.

Read more: Investors dump Catalonian bank shares as separatists prepare independence bid

Brent crude oil rose above $60 per barrel today for the first time since 2015, after reports suggested the Organisation of the Petroleum Exporting Countries (Opec) are close to agreeing an extension to their production cut.


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