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* FTSE 100 up 0.9 pct
* Sixth week of gains
* Weak sterling boosts index
* Pearson up as results indicate turnaround on track
* British Airways owner IAG lifts off after results(Adds closing prices)
By Helen Reid
LONDON, May 4 (Reuters) - Britain's leading stock index waslifted by strong results from British Airways owner IAG, whileHSBC joined French banks in reporting weaker profit which hitits shares.
A weak pound, which gives an accounting boost to companieswhose earnings are in dollars, also helped Britain's FTSE 100to close up 0.86 percent on the day.
The index has risen sharply in recent weeks, though it isstill underperforming European peers. It is up about 10 percentsince hitting 15-month lows at the end of March, and marked itssixth straight week of gains.
IAG was up 5.8 percent and near a four-month highafter a 75 percent jump in quarterly profit.
However, it gave no update on potential takeover of low-costcompetitor Norwegian Air, whose shares fell about 10percent.
IAG said in an investor presentation that it had had contactwith the Norwegian board regarding a possible offer, withoutreaching an agreement.
Rival airline easyJet also rose 1.7 percent, amongthe top FTSE 100 gainers, with Wizz Air up 3.3 percenton the mid-cap index.
HSBC was the standout FTSE laggard, falling about 1percent after investors were disappointed by an unexpected 4percent drop in first-quarter pre-tax profit, which overshadoweda share buyback by the bank.
"The share buyback of $2 billion is earlier, but also lowerthan expected," said Charlie Huggins, manager of an income fundat Hargreaves Lansdown.
"An improvement in returns well beyond our own and consensusexpectations is required to justify the current share price,"said Shore Capital analysts.
Shares in education publishing company Pearson rose7.6 percent after the firm said it was on track to return toprofit growth this year.
The stock rose to its highest since September 2016 on thelatest sign the company's turnaround was on track.
"While the full year guidance has been reiterated, wehighlight that Q1 is not representative for Pearson and thegroup's profits are largely weighted towards the second half,"said Liberum analysts, who have a "sell" rating on it.
Oil majors BP and Royal Dutch Shell cemented the FTSE'sgains as oil prices held near recent highs on tight supplies andtensions over possible new U.S. sanctions against Iran.
Dixons Carphone shares jumped 5 percent to the top ofthe FTSE 250 after RBC analysts increased theirestimates and price target.
"We think electricals trends are robust helped by strongsales of TVs and connected home devices, while the mobile sectorremains tough but is no worse," they wrote in a note.
(Reporting by Helen Reid, additional reporting by JulienPonthus; Editing by Elaine Hardcastle and Alexander Smith)
