FTSE 100 movers: IAG flies higher; Legal & General loses ground
By Michele Maatouk
Date: Wednesday 05 Aug 2020
(Sharecast News) - London's FTSE 100 was up 0.8% at 6,084.29 in afternoon trade on Wednesday.
British Airways and Iberia parent IAG was the standout gainer on the index.
Bottling group Coca-Cola HBC was in the green as it reported a drop in first-half profit and revenue due to coronavirus lockdowns but said trading was starting to improve.
In the six months to 26 June, pre-tax profit fell to €167.2m from €260.8m, with net sales revenue down 15.5% to €2.8bn. The company said its out-of-home channel, which accounts for slightly over 40% of its revenues, was "severely" impacted by the lockdowns put in place in response to the Covid-19 crisis.
As lockdowns have eased or reversed and hotels, restaurants and cafes have reopened, trade has gradually returned to this channel, it said.
Precious metals miners Fresnillo and Polymetal shone as gold prices hit $2,030 an ounce, rising above $2,000 for the first time.
On the downside, banks fell, with HSBC, Natwest, Lloyds and Standard Chartered all weaker.
Legal & General was on the back foot as the insurer left its interim dividend unchanged and reported a 73% fall in first-half profit caused by low interest rates and investment losses.
FTSE 100 - Risers
International Consolidated Airlines Group SA (CDI) (IAG) 192.30p 9.64%
Coca-Cola HBC AG (CDI) (CCH) 2,170.00p 6.74%
Evraz (EVR) 314.40p 6.50%
Fresnillo (FRES) 1,335.00p 5.53%
Polymetal International (POLY) 2,030.00p 5.32%
Compass Group (CPG) 1,128.50p 3.48%
Kingfisher (KGF) 259.40p 3.39%
BP (BP.) 309.25p 3.34%
GVC Holdings (GVC) 708.60p 3.29%
InterContinental Hotels Group (IHG) 3,830.00p 3.26%
FTSE 100 - Fallers
HSBC Holdings (HSBA) 329.35p -2.18%
NATWEST GROUP PLC ORD 100P (NWG) 110.55p -1.69%
Legal & General Group (LGEN) 217.10p -1.36%
Diageo (DGE) 2,685.50p -1.30%
Mondi (MNDI) 1,412.00p -0.84%
Lloyds Banking Group (LLOY) 27.92p -0.83%
Standard Chartered (STAN) 398.20p -0.75%
Informa (INF) 383.70p -0.67%
BT Group (BT.A) 105.50p -0.57%
ITV (ITV) 59.22p -0.30%
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