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FTSE 100 movers: IAG flies higher; B&M hit by downgrade

By Michele Maatouk

Date: Monday 26 Jul 2021

FTSE 100 movers: IAG flies higher; B&M hit by downgrade

(Sharecast News) - London's FTSE 100 was up 0.1% at 7,036.23 in afternoon trade on Monday.
British Airways owner IAG was the standout gainer, rising in tandem with Ryanair after the budget airline reported a widening of its first-quarter losses as it continued to be impacted by Covid restrictions, but lifted its traffic forecast as bookings have surged in recent weeks.

The company's first-quarter losses widened to €273m from €185m in the same period a year ago. It said Covid-19 continued to "wreak havoc" on its business, with most Easter flights cancelled and a slower-than-expected easing of EU government travel restrictions into May and June. However, traffic recovered to 8.1m from 0.5m as demand picked up in May and June.

Miners rallied as copper price rose, with Antofagasta, Glencore, Rio, Anglo American and BHP all trading up.

Antofagasta got the added boost of an upgrade to 'add' at Peel Hunt.

On the downside, B&M European Value Retail was under the cosh after a downgrade to 'sector perform' from 'outperform' at RBC Capital Markets, which pointed to better valuation upside for several other general retailers. It also noted that while B&M is a strong, well-managed retailer, the shares have reached its price target of 575p.

FTSE 100 - Risers

International Consolidated Airlines Group SA (CDI) (IAG) 174.12p 3.36%
Antofagasta (ANTO) 1,484.50p 3.31%
Glencore (GLEN) 324.60p 2.80%
Rio Tinto (RIO) 6,092.00p 2.80%
Anglo American (AAL) 3,044.00p 2.70%
BHP Group (BHP) 2,316.00p 2.57%
Evraz (EVR) 620.80p 2.31%
BP (BP.) 289.95p 2.06%
Royal Dutch Shell 'A' (RDSA) 1,392.80p 2.02%
Whitbread (WTB) 3,093.00p 1.98%

FTSE 100 - Fallers

B&M European Value Retail S.A. (DI) (BME) 563.00p -2.49%
AstraZeneca (AZN) 8,283.00p -2.32%
Flutter Entertainment (CDI) (FLTR) 12,615.00p -2.02%
Unilever (ULVR) 4,067.00p -1.86%
Smith & Nephew (SN.) 1,526.50p -1.80%
London Stock Exchange Group (LSEG) 7,492.00p -1.73%
Just Eat Takeaway.Com N.V. (CDI) (JET) 5,999.00p -1.69%
Pershing Square Holdings Ltd NPV (PSH) 2,595.00p -1.52%
Relx plc (REL) 2,035.00p -1.50%
Royal Mail (RMG) 525.40p -1.46%


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