IAG Struggles But FTSE Ends Week Strong

Shares in the British Airways owner IAG have fallen, but the FTSE 100 ended the week on a strong note as household goods company Reckitt Benkiser put in a strong performance, gaining 3.09 to rebound after a difficult week.

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shareprices.com - Saturday, October 28, 2017

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IAG struggled after revealing that its airlines had seen disappointing revenue growth per available seat. The company, which owns Aer Lingus, Vueling, Iberia and British Airways ended the day down by 6.94 percent.

Connect Group, the newspaper distributor, put in a strong performance, as did Soco International, an oil and gas exploration company. Both of these companies were assisted by senior members of their management purchasing shares in their respective firms. Meanwhile, Berkeley Group lost 3.45 percent, as bosses sold some of their shares, for a total of £50 million.

Meanwhile, in the US, economic data proved to be better than expected, with strong growth helping the US indicies to get off to a strong start. In Europe, however, investors were quick to get rid of Catalonian bank shares, as separatists started to prepare for an independence bid.

In other news, Brent Crude hit $60 a barrel, for the first time since 2015. The Opec cartel is reportedly close to agreeing an extension to their ongoing production cut, although the cut has had issues in the past, with countries that are outside of it threatening to refuse to comply with the production measures and attempting to flood the market with crude oil in the short term.

 

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