FTSE 100 movers: IAG flies higher on results; IMI in the red
London’s FTSE 100 was down 0.1% at 7,682.61 in afternoon trade on Friday.
British Airways and Iberia owner IAG surged after it posted a record first-half profit as it hailed a strong performance across the group.
In the six months to 30 June, the company swung to an operating profit before exceptional items of €1.3bn from a loss of €466m in the same period a year earlier. IAG pointed to sustained strong demand across the network, and a particularly strong showing from the Spanish business.
Total revenue rose to €13.6m during the half from €9.4m.
Pharmaceuticals giant AstraZeneca gained sharply as its second-quarter results beat estimates.
StanChart rallied as it lifted annual guidance and launched a $1bn share buyback after first-half profits rose 20% on the back of soaring interest rates.
NatWest edged up as it reported better-than-expected interim profits only days after it was rocked by the resignation of chief executive Alison Rose over the leaking of details of Nigel Farage.
The bank posted pre-tax profit of £3.6bn, up from £2.6bn a year earlier and better than the £3.3bn estimated by analysts. It also announced a £500m share buyback.
Intertek rose after results, while IMI fell.
FTSE 100 - Risers
International Consolidated Airlines Group SA (CDI) (IAG) 163.45p 5.49%
AstraZeneca (AZN) 11,148.00p 4.19%
Standard Chartered (STAN) 737.80p 4.00%
NATWEST GROUP (NWG) 247.00p 2.96%
Intertek Group (ITRK) 4,380.00p 2.55%
Airtel Africa (AAF) 116.40p 2.46%
Rolls-Royce Holdings (RR.) 193.35p 1.98%
Ocado Group (OCDO) 967.00p 1.51%
Unilever (ULVR) 4,224.00p 1.04%
BAE Systems (BA.) 930.80p 1.02%
FTSE 100 - Fallers
St James's Place (STJ) 954.80p -3.89%
Admiral Group (ADM) 2,205.00p -3.03%
IMI (IMI) 1,600.00p -2.74%
Aviva (AV.) 389.70p -2.43%
Anglo American (AAL) 2,369.00p -2.39%
Kingfisher (KGF) 246.50p -2.30%
Beazley (BEZ) 561.00p -2.09%
Rio Tinto (RIO) 5,109.00p -2.00%
DCC (CDI) (DCC) 4,526.00p -1.86%
Legal & General Group (LGEN) 233.30p -1.81%