FTSE 100 movers: Airlines fly higher while Glencore sinks

The FTSE 100 was just in the red in afternoon trading on Thursday, after the European Central Bank decided to keep policy measures unchanged on Thursday, in a move widely expected by analysts.

Airline stocks were given a boost on a positive read-across from a surprise full-year profit target rise by Lufthansa.

Both International Consolidated Airlines and easyJet rallied on the benchmark.

Adjusted earnings before interest and taxes for the nine months came in at €1.68bn for Deutsche Lufthansa, down a touch from €1.69bn in the same period a year ago but ahead of expectations of €1.53m.

Lufthansa, which issued a profit warning back in July, said that compared to previous guidance, the “difficult-to-forecast short-term bookings of business travellers” in September have developed better than expected.

The airline said it now expects full-year adjusted EBIT to be around the same as in 2015, versus previous guidance that it would come in below last year.

Banking stocks were also higher as data showed UK gross mortgage lending reached its highest point in September since before the financial crisis hit in 2007.

CML estimated that gross mortgage lending reached £20.5bn in September this year, the highest it has been since September 2007.

Compared to September 2015 the figure is 2% higher but compared to the previous month it is 7% lower.

Shares in Barclays, Lloyds Banking Group and Royal Bank of Scotland gained.

Anglo-Swiss miner Glencore ticked lower after announcing plans to sell its rail coal haulage business in the New South Wales Hunter Valley for $1.14bn to Genesee & Wyoming Australia.

The company agreed to sell Glencore Rail, the third largest coal haulage business in Australia, to GWA, subject to approval from the foreign investment review board, as part of its programme to reduce its debt.

After the deal goes through GWA will service the majority of Glencore's coal haulage in the Hunter Valley for a 20-year contract to export coal to the Port of Newcastle.

FTSE 100 - Risers

Royal Bank of Scotland Group (RBS) 184.20p 2.33%
Barclays (BARC) 181.25p 2.17%
International Consolidated Airlines Group SA (CDI) (IAG) 401.50p 2.14%
easyJet (EZJ) 941.00p 1.62%
Land Securities Group (LAND) 1,014.00p 1.30%
Babcock International Group (BAB) 1,016.00p 1.20%
Lloyds Banking Group (LLOY) 55.39p 0.95%
Legal & General Group (LGEN) 209.90p 0.86%
Ashtead Group (AHT) 1,333.00p 0.83%
Associated British Foods (ABF) 2,509.00p 0.76%

FTSE 100 - Fallers

ITV (ITV) 173.00p -3.78%
Smiths Group (SMIN) 1,434.00p -3.11%
Sky (SKY) 831.00p -2.92%
WPP (WPP) 1,773.00p -2.58%
Taylor Wimpey (TW.) 146.70p -2.52%
Barratt Developments (BDEV) 482.00p -2.33%
BAE Systems (BA.) 542.00p -2.08%
Hikma Pharmaceuticals (HIK) 1,943.00p -2.07%
Intu Properties (INTU) 289.30p -1.97%
Antofagasta (ANTO) 512.00p -1.73%