FTSE 100 up on British Airways, RBS results

Friday 6th November 2009

The FTSE 100 rose 0.22 per cent to 5,137.52 by 09:00 GMT, as several companies reported third quarter earnings.

Despite making a £292 million pre-tax loss compared with a £52 million profit last year – a bigger loss than expected – British Airways led the rise with a 5.48 per cent jump in early trade.

Investors were cheered by the airline's chief executive Willie Walsh, who said passenger numbers had stabilised and more cost cutting measures were on the way.

Royal Bank of Scotland (RBS) was also rising on the blue-chip index, after releasing earnings results for the third quarter.

Although impairment charges jumped, taking the bank to a £2.2 billion loss for the three months to September, shares surged 4.35 per cent on upbeat comments about the bank's future from chief executive Stephen Hester.

In contrast, an uncertain outlook from Rentokil in its third-quarter earnings report sent stock tumbling 2.59 per cent – despite a rise in profits at the firm.

The results from RBS did not help Lloyds Banking, which remains in the red, falling 2.54 per cent, while Barclays also dipped 1.15 per cent. ADNFCR-1783-ID-19446685-ADNFCR

Related News

Mandelson to EU: It's time to get real - 06/11/09
Lord Mandelson has declared the European Union needs to "get real" and reorganise itself or face being left behind in the global economy

FTSE 100 closes up on Wall Street gains - 05/11/09
The FTSE 100 recovered from a weak start to close up 0

Bank pumps extra £25bn into economy - 05/11/09
The Bank of England has today announced an extra £25 billion will be pumped into the economy through its quantitative easing (QE) programme

FTSE 100 down over one per cent - 05/11/09
The FTSE 100 was down over one per cent in early trading on Thursday

FTSE 100 jumps on strong retailer sales - 04/11/09
The FTSE 100 closed 1

<< Back To News Listings

News Article Search

Quick Apply