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IAG shares soar as FTSE 100 recovers | IAG shares soar as FTSE 100 recovers |
(about 4 hours later) | |
Shares in British Airways owner IAG took off after the airline group released its latest results. | Shares in British Airways owner IAG took off after the airline group released its latest results. |
IAG's shares closed up nearly 5% at 433.85p, despite the company - which also owns Iberia - reporting a 4% dip in third-quarter profits. | |
The group said it had been hit by the weak pound, and also by disruption from air traffic control strikes in France. | The group said it had been hit by the weak pound, and also by disruption from air traffic control strikes in France. |
However, the results were in line with expectations, and IAG also raised its interim dividend by 10%. | However, the results were in line with expectations, and IAG also raised its interim dividend by 10%. |
IAG was the top riser in the FTSE 100, with the index recovering from early losses to stand 9.7 points higher at 6,996.26. | |
RBS shares made a promising start to the day after the release of its third-quarter results, but then quickly lost support and ended down 1.2% at 194p. | |
The bank reported a third-quarter loss of £469m and confirmed that it would not be able to meet the deadline of selling its Williams & Glyn bank by the end of 2017. | The bank reported a third-quarter loss of £469m and confirmed that it would not be able to meet the deadline of selling its Williams & Glyn bank by the end of 2017. |
On the currency markets, the pound lost ground after a legal challenge against Brexit was rejected at the High Court in Belfast. | On the currency markets, the pound lost ground after a legal challenge against Brexit was rejected at the High Court in Belfast. |
Against the dollar, the pound was down 0.18% for the day at $1.2141, and 0.53% lower against the euro at €1.1104. |