Less Ads, More Data, More Tools Register for FREE

Pin to quick picksInternational Airlines Share News (IAG)

Share Price Information for International Airlines (IAG)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 163.50
Bid: 163.70
Ask: 163.80
Change: -3.55 (-2.13%)
Spread: 0.10 (0.061%)
Open: 167.15
High: 167.15
Low: 162.85
Prev. Close: 167.05
IAG Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

LONDON MARKET CLOSE: TikTok Tensions And Lockdown Woes Hit Stocks

Fri, 18th Sep 2020 16:57

(Alliance News) - Stocks in London ended a frustrating week on a sour note Friday, with the US government deciding to ban some Chinese apps starting this weekend.

The aggressive move from the US added to an already downbeat mood amid gathering concern over a possible UK-wide lockdown next month.

A second national lockdown to curb the spread of coronavirus has not been ruled out but the "great hope" is that people will heed current advice to help manage a "very serious" situation, the UK Health Secretary has said.

Matt Hancock said a national lockdown was the "last line of defence" as he responded to reports that ministers are considering further national measures, even for just a two-week period, such as imposing a curfew on bars and restaurants.

The FTSE 100 index gave back 42.87 points, or 0.7%, to finish at 6,007.05 midday Friday. The blue chip index ended the week 0.8% lower.

SpeadEx analyst Connor Campbell said: "Coronavirus defined the FTSE's session, with the index falling 0.6% as it tumbled to 6025. A fresh round of lockdown measures up north, and the threat of further restrictions across the country, spooked the index, especially in the hospitality and services sectors.

"It is going to be interesting to see over the rest of September whether we return to a situation where daily Covid-19 case and death figures from the UK and across Europe become market movers like they were at earlier points in the pandemic."

The mid-cap FTSE 250 index closed down 168.04 points, or 1.0%, at 17,569.68. The AIM All-Share index added 0.4% at 973.52.

The Cboe UK 100 index closed down 0.7% at 599.08. The Cboe 250 ended 1.2% lower at 14,976.08 and the Cboe Small Companies lost 0.7% at 9,373.17.

In mainland Europe, the CAC 40 in Paris ended down 1.2%, while the DAX 30 in Frankfurt gave back 0.7% Friday evening.

"The atmosphere across stock markets is turning sour as the weekend looms, as investors fret about possible retaliatory measures from China after the US announced a ban on key apps from Sunday," IG Chief Market Analyst Chris Beauchamp said.

US officials on Friday ordered a ban on downloads of the popular Chinese-owned mobile applications WeChat and TikTok from Sunday, saying they threaten national security.

The move comes amid rising US-China tensions over technology and a Trump administration effort to engineer a sale of the video app TikTok to American investors.

The initiative would ban WeChat, an app with massive use among Chinese speakers, and TikTok from the online marketplaces operated by Apple and Google, a part of Alphabet.

TikTok slammed the decision and vowed to fight the Trump administration's ongoing crackdown on the company.

"We disagree with the decision from the Commerce Department," TikTok said, adding that it was "disappointed" in a ban on new downloads that takes effect on Sunday, saying it impedes a tool "for entertainment, self-expression and connection."

Beauchamp continued: "Such a move opens an entirely new dimension to the US-China standoff, and puts major tech firms squarely in Beijing's sights, as the two powers seek out their opponent's weak spots. US markets have struggled to hold their ground all week, and as the week comes to a close it looks like more pre-election losses are in store. The Nasdaq continues to lead the losses for US markets, which is a very negative sign for equities in the near-term; such an absence of risk appetite flags the potential for a much bigger drawdown as the election nears, which would conform to the normal pattern for election years, and also suggest that the Republicans are on course to lose the White House."

Wall Street was red at the equities close in London on Friday, in the wake of the Fed decision, with the Dow Jones down 0.3%, the S&P 500 down 0.7% and the Nasdaq 1.1% lower.

In London, travel firms struggled on the prospect of a lockdown spanning the October half-term school holiday.

British Airways-parent International Consolidated Airlines lost 15%, while Holiday Inn-owner Intercontinental Hotels gave back 4.5% and budget airline easyJet shed 9.2%.

Ryanair lost 3.9% after saying it will cut its capacity for October beyond the reduction already announced in mid-August.

The Irish low-cost carrier said that it will slash its October capacity by 20%, on top of the 20% cut that was announced earlier.

The capacity reduction was blamed on the damage caused to forward bookings by changes in EU government travel restrictions and policies, most of which Ryanair considers being introduced at short notice, undermining the willingness to make forward bookings.

Looking ahead, Ryanair said it now expects its capacity for October to fall to 40% of levels seen the same month the year before from 50%, but it still expects to maintain a load factor of more than 70%.

Lenders also continued their struggles with continued talk of the Bank of England going negative.

NatWest shed 3.3%, Barclays 3.1%, Standard Chartered 3.5%, HSBC 2.2% and Lloyds 3.9%.

Sterling was quoted at USD1.2949 Friday evening, soft on USD1.2955 at the London equities close on Thursday.

UK retail sales registered their fourth straight month of growth in August, but the pace of improvement is slowing, data from the Office for National Statistics showed.

Sales were up 0.8% month-on-month in August, slower than the 3.7% growth posted for July but ahead of expectations, according to FXStreet, of a 0.7% rise. The strength of the retail rebound has been fading since lockdown measures began to be eased, with sales having risen 12% in May and 14% in June.

The euro traded at USD1.1863, higher than USD1.1821 late Thursday in London. Against the yen, the dollar was lower at JPY104.41 versus JPY104.79.

Back in London, gold miner Fresnillo gained 4.9%, tracking the price of the precious metal higher.

Gold was quoted at USD1,953.70 an ounce at the close Friday, up from USD1,946.60 on Thursday. Brent oil was trading at USD43.34 a barrel, up from USD43.22 late Thursday in London.

Pennon added 4.0% after Royal Bank of Canada resumed its coverage of the stock at Outperform.

In the FTSE 250, John Laing, advanced 6.8% after agreeing to sell its entire 30% stake in a UK rail programme for up to GBP421 million in cash.

The mid-cap infrastructure investor has entered into an agreement to sell its 30% interest in the InterCity Express Programme Phase 2 to AIP Management, a Danish investment company. The sale consideration represents a strong uplift on the GBP333 million valuation of the stake as at June 30, John Laing noted.

John Laing said it will return 5% to 10% of gross proceeds from the sale to investors on an annual basis, as per the company's dividend policy.

At the other end of the midcaps, Essentra lost 9.5% after raising GBP100 million through a share sale, the money from which will go towards the acquisition of North Carolina-based 3C! Packaging, which provides packaging and labels with a pharmaceutical focus.

The FTSE 250 plastics and fibre products maker issued a total of 38.5 million shares through a placing, subscription and PrimaryBid retail offer at a price of 260 pence, reflecting a discount of 8.8% to Essentra's closing price on Thursday of 285.00p.

A quiet economic calendar next week is headlined by a slew of PMIs on Wednesday, with Japan's Jibun Bank manufacturing flash PMI at 0130 BST, followed by Markit flash composite PMIs from Germany at 0830 BST, the eurozone at 0900 BST, the UK at 0930 BST and the US at 1445 BST.

Also of note next week, financial markets in Japan are closed Monday and Tuesday as the country celebrates Respect for the Aged Day.

The UK corporate calendar on Monday will see retailer Superdry and IT services management firm GRC International issue full-year results. Biotech firm MaxCyte and blue chip publisher Informa will release half-year results.

By Paul McGowan; paulmcgowan@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

More News
23 Feb 2023 21:54

UPDATE: IAG announces acquisition of Air Europa for EUR500 million

(Alliance News) - International Consolidated Airlines Group SA, parent company of British Airways and Iberia, on Thursday announced the acquisition of Air Europa for EUR500 million from the Spanish company Globalia.

Read more
23 Feb 2023 20:27

IAG announces acquisition of Air Europa for EUR500 million

(Alliance News) - International Consolidated Airlines Group SA, parent company of British airlines British Airways and Iberia, on Thursday announced the acquisition of Air Europa for EUR500 million from the Spanish company Globalia.

Read more
23 Feb 2023 10:16

Friday preview: US price data, Xi speech in focus

(Sharecast News) - All eyes at the end of the week would be on the US and the release of readings for two key inflation gauges.

Read more
22 Feb 2023 06:29

Heathrow warns UK risks slipping behind in greener aviation fuel

(Alliance News) - Heathrow aims to triple usage of greener aviation fuel at the airport this year, but warned the UK risks falling behind other nations in developing production facilities.

Read more
22 Feb 2023 05:29

Wizz Air named worst short-haul airline by UK passengers

(Alliance News) - Wizz Air Holdings PLC has been named the worst short-haul airline by UK passengers.

Read more
21 Feb 2023 10:17

LONDON BROKER RATINGS: BoA cuts DS Smith; Jefferies likes JTC

(Alliance News) - The following London-listed shares received analyst recommendations Tuesday morning:

Read more
20 Feb 2023 14:36

Beware of wage inflation

STOXX 600 up 0.2%

*

Read more
17 Feb 2023 15:49

UK earnings, trading statements calendar - next 7 days

Monday 20 February 
Bank of Cyprus Holdings PLCFull Year Results
Georgia Capital PLCFull Year Results
Goldplat PLCFull Year Results (TBC)
LungLife AI IncFull Year Results
Tristel PLCHalf Year Results
Wilmington PLCHalf Year Results
Tuesday 21 February 
Antofagasta PLCFull Year Results
BHP Group LtdHalf Year Results
Blancco Technology Group PLCHalf Year Results
Finsbury Food Group PLCHalf Year Results
HSBC Holdings PLCFull Year Results
InterContinental Hotels Group PLCFull Year Results
Safestore Holdings PLCTrading Statement
Smith & Nephew PLCFull Year Results
Springfield Properties PLCHalf Year Results
Sylvania Platinum LtdHalf Year Results
Trifast PLCTrading Statement
Wednesday 22 February 
Avingtrans PLCHalf Year Results
City of London Investment Group PLCHalf Year Results
Conduit Holdings LtdFull Year Results
Liberty Global PLCFull Year Results
Lloyds Banking Group PLCFull Year Results
Primary Health Properties PLCFull Year Results
Renewables Infrastructure Group LtdFull Year Results
Rio Tinto PLCFull Year Results
Synectics PLCFull Year Results
TBC Bank Group PLCFull Year Results
Transense Technologies PLCHalf Year Results
Thursday 23 February 
Anglo American PLCFull Year Results
Arbuthnot Banking Group PLCTrading Statement
BAE Systems PLCFull Year Results
Bluefield Solar Income Fund LtdHalf Year Results
Drax Group PLCFull Year Results
Driver Group PLCFull Year Results
Genus PLCHalf Year Results
Hays PLCHalf Year Results
Hikma Pharmaceuticals PLCFull Year Results
Howden Joinery Group PLCFull Year Results
Macfarlane Group PLCFull Year Results
Made Tech Group PLCHalf Year Results
Mondi PLCFull Year Results
Morgan Sindall Group PLCFull Year Results
Pantheon International PLCHalf Year Results
Rolls-Royce Holdings PLCFull Year Results
Serco Group PLCFull Year Results
Spectris PLCFull Year Results
Versarien PLCFull Year Results
WPP PLCFull Year Results
Friday 24 February 
ASA International Group PLCTrading Statement
CVS Group PLCHalf Year Results
European Opportunities Trust PLCHalf Year Results
Grit Real Estate Income Group LtdHalf Year Results
International Consolidated Airlines Group SAFull Year Results
Jupiter Fund Management PLCFull Year Results
  
Copyright 2023 Alliance News Ltd. All Rights Reserved. 

Read more
13 Feb 2023 08:30

Heathrow Airport records busiest start of year since before pandemic

(Alliance News) - Heathrow Airport is "back to its best" having recorded the busiest start of the year since before the pandemic, its Chief Executive Officer John Holland-Kaye has said.

Read more
6 Feb 2023 15:25

Global airline traffic last year rebounds to over half of pre-pandemic levels

LONDON, Feb 6 (Reuters) - Global airline traffic recovered to 68.5% of pre-pandemic levels last year and surged 64.4% from 2021, according to figures published by global aviation body IATA on Monday.

Read more
31 Jan 2023 08:44

Airlines must 'use or lose' UK airport slots in return to pre-COVID rules

LONDON, Jan 31 (Reuters) - Airlines operating at British airports will have to use 80% of their take-off and landing slots in order to keep them, the government said on Tuesday, as it brings the industry back in line with pre-pandemic rules.

Read more
25 Jan 2023 17:33

London stocks end lower, Ascential jumps on upbeat forecast

Ascential tops FTSE midcap index

*

Read more
25 Jan 2023 16:40

Europe Inc earnings offer market optimists more hope

ASML results exceeded expectations

*

Read more
24 Jan 2023 12:41

Liberum lifts price targets on airline stocks

(Sharecast News) - Liberum said on Tuesday that the airline industry is in the early stages of recovery from the pandemic.

Read more
20 Jan 2023 09:25

LONDON BROKER RATINGS: Bank of America raises Asos, boohoo to 'buy'

(Alliance News) - The following London-listed shares received analyst recommendations Friday morning:

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.