The next focusIR Investor Webinar takes places on 14th May with guest speakers from WS Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.

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: 181.20
Bid: 181.95
Ask: 182.10
Change: -1.60 (-0.88%)
Spread: 0.15 (0.082%)
Open: 184.45
High: 186.00
Low: 181.20
Prev. Close: 182.80
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 OPEN: Airlines Fall As Ryanair Cuts Winter Capacity

Thu, 15th Oct 2020 08:59

(Alliance News) - Stock prices in London opened lower on Thursday as fears over the possible reimposition of coronavirus lockdowns spooked investors, while airlines were in the red after Ryanair cut its planned winter capacity.

The large-cap FTSE 100 index was down 111.71 points, or 1.9%, at 5,823.35. The mid-cap FTSE 250 index was down 207.78 points, or 1.2%, at 17,742.63. The AIM All-Share index was down 0.6% at 975.68.

The Cboe UK 100 index was off 1.5% at 581.59. The Cboe 250 was down 0.9% at 15,040.56, and the Cboe Small Companies down 0.1% at 9,432.45.

In mainland Europe, the CAC 40 in Paris was down 1.2% while the DAX 30 in Frankfurt was down 2.2%.

France on Wednesday became the latest European country to toughen anti-coronavirus measures, imposing a strict curfew in Paris and eight other cities from Saturday.

In addition, new cases of coronavirus infections in Germany have soared to 6,638 in the past 24 hours, official data showed, reaching a daily level not seen since the start of the pandemic. The alarming jump in numbers came just hours after Chancellor Angela Merkel met with the leaders of Germany's 16 federal states to agree tougher restrictions designed to slow the spread of the contagion.

UK Prime Minister Boris Johnson is also under increasing pressure to impose more stringent measures to cut spiralling infection rates in England, including a two-week "circuit-breaker" lockdown.

"A series of tougher Covid-19 restrictions across Europe sent the markets spiralling on Thursday, one of investors' regular reminders that, however much they try and deny it, the pandemic is still very much a thing," said Spreadex analyst Connor Campbell.

In the FTSE 100, Just Eat Takeaway.com was the only stock to open in the green, up 0.1%. The online takeaway platform was extending gains from Wednesday after reporting a big rise in orders. The stock ended up 6.4% on Wednesday.

At the other end of the large caps, International Consolidated Airlines was down 5.7%. The British Airways parent was suffering a negative read-across after Irish carrier Ryanair Holdings said it will slash more flights this winter due to coronavirus restrictions.

Ryanair was down 3.7%.

In the FTSE 250, budget airline easyJet was the worst performer, down 6.1%, while holiday airline Jet2, formerly Dart Group, was down 3.2%.

Ryanair said forward bookings have "materially" weakened in November and December due to increased flight restrictions imposed by EU governments. It will close its bases in Cork and Shannon in Ireland and in Toulouse in France this winter as Covid-19 continues to hurt the travel sector.

In light of the weaker bookings, the Irish carrier further reduced its winter schedule, from November to March - taking capacity down to 40% from 60% of prior year. Ryanair said with the greatly reduced winter capacity and load factors of around 70%, it now expects full year traffic to fall to 38 million passengers.

The budget airline said this guidance could be further revised downwards if EU government continue to "mismanage air travel and impose more lockdowns this winter".

Pearson was down 3.0% after Barclays cut the education publisher to Underweight from Equal Weight.

The pound was quoted at USD1.3000 early Thursday, lower from USD1.3029 at the London equities close on Wednesday.

Meanwhile, EU leaders are to take stock of the talks with the UK on a post-Brexit trade deal amid "frustration" in London at the slow progress.

Ahead of the latest EU summit in Brussels, Johnson voiced his "disappointment" that they had not been able to move forward more quickly on negotiations.

The UK PM had previously said that he would walk away from the negotiations unless there was an agreement by the time of the two-day gathering in the Belgian capital, starting Thursday.

However, in a call with European Commission President Ursula von der Leyen and European Council President Charles Michel on Wednesday evening, Johnson said he would "reflect" on the outcome of the summit before making a decision.

Meanwhile, von der Leyen and Michel reiterated that while the EU still wanted a deal, it could not be at "any price".

The euro was priced at USD1.1755, flat from USD1.1760. Against the yen, the dollar was quoted at JPY105.25, up from JPY105.07.

The Japanese Nikkei 225 index ended down 0.5%. In China, the Shanghai Composite closed down 0.2%, while the Hang Seng index in Hong Kong is down 1.2%.

The rise in Chinese consumer prices slowed for a second successive month in September, official data showed as pork supplies bounce back from the devastating African swine fever while farms recovered from flooding.

The consumer price index - a key gauge of retail inflation - rose 1.7% last month from a year ago, compared with a 2.4% reading in August, according to the National Bureau of Statistics.

In commodities, Brent oil was trading at USD43.33 Thursday morning, up from USD43.18 at the close Wednesday. Gold changed hands at USD1,898.73 an ounce, down from USD1,909.80.

The economic events calendar on Thursday has US jobless claims and import and export price indices are due at 1330 BST.

By Arvind Bhunjun; arvindbhunjun@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

More News
28 Sep 2023 17:28

IAG, Lufthansa and Air France KLM keen on stake in Portugal's TAP

(Alliance News) - The Portuguese government on Thursday opened the sale of a majority stake in flag carrier TAP, with Deutsche Lufthansa AG quickly expressing interest and other European rivals also expected to be keen. 

Read more
19 Sep 2023 09:46

LONDON BROKER RATINGS: HSBC cuts NatWest; Stifel likes Computacenter

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

Read more
12 Sep 2023 05:58

UK govt, British Airways face claim over Kuwait hostage crisis

(Alliance News) - Passengers and crew members of a British Airways flight who were taken hostage in Kuwait in 1990 are intending to take legal action against the British government and the airline, a law firm said Tuesday. 

Read more
8 Sep 2023 09:11

UK competition regulator proposes Heathrow charges are reconsidered

(Alliance News) - The competition regulator has provisionally found that some errors were made in a decision on how much Heathrow Airport can charge airlines.

Read more
8 Sep 2023 07:56

Competition regulator mostly backs lower airline price caps at Heathrow

(Sharecast News) - The UK competition regulator has said that the Civil Aviation Authority (CAA) made some errors in determining the lower price cap that Heathrow should charge airlines, but said that most of its calculations had been correct.

Read more
30 Aug 2023 17:15

FTSE 100 gains for sixth day on homebuilders' boost

Homebuilders up 1.8%

*

Read more
30 Aug 2023 14:29

Airlines count cost of UK traffic control failure

(Alliance News) - The worst disruption to UK air traffic control in almost a decade following a technical fault risks costing carriers around GBP100 million, the head of global airline body IATA estimated Wednesday.

Read more
30 Aug 2023 09:53

UK air traffic control meltdown fault won't happen again - NATS

Head of air traffic control provider says issue fixed

*

Read more
30 Aug 2023 08:21

Britain's air traffic control failure to cost airlines 100 mln stg -IATA head

LONDON, Aug 30 (Reuters) - The cost to airlines from Britain's air traffic control failure on Monday is likely to reach about 100 million pounds ($126 million), Willie Walsh, the head of global airlines group IATA told the BBC on Wednesday. ($1 = 0.7920 pounds) (Reporting by Sarah Young, editing by Elizabeth Piper)

Read more
30 Aug 2023 07:45

UK air traffic control says problem which caused flight cancellations won't happen again

LONDON, Aug 30 (Reuters) - The disruption to flights into and out of Britain caused by a technical failure on Monday will not happen again after changes were made to the system, the head of the country's air traffic control group NATS said.

Read more
29 Aug 2023 21:16

UK air traffic failure set to disrupt flights for days

Around 1,500 flights cancelled on Monday

*

Read more
29 Aug 2023 13:44

UK government orders review into air traffic control chaos

(Alliance News) - The UK government on Tuesday ordered a review after the country's air traffic control system suffered its worst disruption in almost ten years, stranding thousands of passengers.  

Read more
29 Aug 2023 11:51

LONDON MARKET MIDDAY: FTSE outperforms peers; housebuilders rise

(Alliance News) - The FTSE 100 was outperforming its European peers at midday on Tuesday, amid news that UK consumer price inflation is decelerating and the government is scrapping some rules to boost housebuilding.

Read more
29 Aug 2023 07:45

UK air travel disruption to last for days -minister

LONDON, Aug 29 (Reuters) - British transport minister Mark Harper said it would take days to resolve the widespread disruption to flights into and out of the country after air traffic control systems were hit by a technical problem.

Read more
29 Aug 2023 05:51

Travel disruption could last days after UK air traffic control fault

(Alliance News) - Travel disruption could last for days after flights were cancelled leaving thousands of passengers stranded following an air traffic control technical fault.

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.