News Column

Airline decline and M&S worries keep the FTSE in the red

July 9, 2014

APROFIT warning from Air France-KLM yesterday hit airline stocks and dragged the FTSE down by more than one per cent.

The blue-chip FTSE 100 index fell 1.25 per cent, or 85.06 points, to 6,738.45 points.

International Consolidated Air-lines Group - the owner of British Airways - slumped seven per cent to 335.90p, the worst-performing FTSE 100 stock in percentage terms.

Low-cost airline EasyJet dived 5.8 per cent to 1,248p, after Air France-KLM warned its 2014 profits could be as much as 12 per cent lower than previously predicted because of overcapacity and weak prices.

Iconic food and clothing retailer Marks & Spencer fell 1.34 per cent to 427.40p, after the company reported that first-quarter sales had been held back by its transition to a new website.

Drugmaker Shire also fell 2.6 per cent to 4,530p as traders expressed disappointment at rival AbbVie's latest offer, with some saying they wanted it to offer more cash.

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Source: City A.M. (UK)

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