LONDON MARKETS: FTSE 100 Slides, But Hangs Onto Monthly Gains
April 29 2016 - 4:17AM
Dow Jones News
By Carla Mozee, MarketWatch
IAG under pressure after Brussels attack changes plans
U.K. stocks dropped Friday, driving toward a weekly loss, with
shares of British Airways's parent under pressure and investors
still assessing the impact of central bank inaction.
The FTSE 100 fell 0.8% to 6,271.45, with no sectors trading
higher. The index on Thursday ended with a minor gain after being
rattled by an unexpected decision by the Bank of Japan not to
launch new stimulus.
The FTSE 100 was looking at a weekly decline of 0.5%, but
remained on track for a 1.7% rise for April.
"It's as good as certain that the FTSE 100 will post its third
successive monthly gain tonight, but if there's to be any hope of
sustaining this trend, then the markets will be looking for central
bankers to maintain that accommodative stance," said Trustnet
Direct market analyst Tony Cross.
Among decliners Friday, International Consolidated Airlines
Group SA (IAG.LN) lost 3.8% after the parent of British Airways cut
its growth plans
(http://www.marketwatch.com/story/iag-cuts-growth-plans-after-brussels-attacks-2016-04-29)
in the wake of the Brussels terror attacks in March.
Royal Bank of Scotland's (RBS.LN) first-quarter net loss nearly
doubled to GBP968 million ($1.41 million)
(http://www.marketwatch.com/story/rbs-loss-nearly-doubles-on-12-billion-payment-2016-04-29)
on restructuring charges and a one-off GBP1.2 billion payment to
the U.K. government. Shares were down 2.1%.
Also among the few advancers, shares of telecoms giant BT Group
PLC (BT.A.LN) gained 1.5%.
Mining shares were mixed as most dollar-denominated metals
prices found support from a fall in the dollar . Randgold Resources
PLC (RRS.LN) was up 0.9% as gold prices pushed up nearly 1%.
Platinum producer Anglo American PLC (AAL.LN) rose 1%, and copper
miner Fresnillo PLC (FRES.LN) gained 0.8%.
(END) Dow Jones Newswires
April 29, 2016 05:02 ET (09:02 GMT)
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