LONDON (ShareCast) - Airline stocks IAG and easyJet were falling sharply today as European peer Air France-KLM cut its profit guidance for the year. In comments similar to those made by Deutsche Lufthansa, the French-Dutch airline said that overcapacity on long-haul flights was having an impact on profitability.

Hargreaves Lansdown dropped following HSBC's decision to stick with its 'underweight' rating.

Marks & Spencer fell as investors responded to a mixed first-quarter update and this morning's annual general meeting. While the high street department store chain blamed a drop in UK like-for-like sales on the impact of its new website and fewer promotions, it expressed confidence in improving trends in clothing, particularly Womenswear.

Shire was significantly lower after US pharmaceutical group AbbVie raised its offer to £51.15 per share, valuing its Dublin-based rival at more than £30bn ($51bn). Shire responded later that, as the Chicago drugmaker had not sent it the proposal before making the announcement, its board would meet to consider the proposal.

Mining stocks were mostly higher this afternoon, with Rio Tinto among the best performers after Morgan Stanley lifted its target prices for the stock.

Glencore was also lifted by the news it has completed the acquisition of Caracal, which it said would "strengthen our growing African oil business".



FTSE 100 - Risers
Coca-Cola HBC AG (CDI) (CCH) 1,330.00p +0.83%
Rio Tinto (RIO) 3,287.00p +0.75%
Glencore (GLEN) 344.70p +0.64%
Prudential (PRU) 1,384.50p +0.47%
Aggreko (AGK) 1,693.00p +0.47%
Intu Properties (INTU) 311.20p +0.45%
Rolls-Royce Holdings (RR.) 1,061.00p +0.38%
Fresnillo (FRES) 930.00p +0.32%
Antofagasta (ANTO) 818.00p +0.31%
InterContinental Hotels Group (IHG) 2,441.00p +0.29%

FTSE 100 - Fallers
International Consolidated Airlines Group SA (CDI) (IAG) 332.10p -8.06%
easyJet (EZJ) 1,247.00p -5.89%
Hargreaves Lansdown (HL.) 1,184.00p -4.59%
GKN (GKN) 352.40p -3.61%
Shire Plc (SHP) 4,492.00p -3.42%
Sports Direct International (SPD) 721.00p -3.16%
Kingfisher (KGF) 340.80p -2.91%
Babcock International Group (BAB) 1,119.00p -2.44%
Johnson Matthey (JMAT) 3,094.00p -2.43%
Sainsbury (J) (SBRY) 309.40p -2.43%

NR

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