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Economy concerns drag FTSE 100 lower, British Airways owner slides

Byadmin2

May 6, 2022
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  • FTSE 100 down 0.5%, FTSE 250 off 0.8%

Might 6 (Reuters) – UK’s blue-chip index slipped on Friday, with British Airways owner falling the most after frustrating incomes, while stress over the economy weighed on the state of mind after an economic downturn caution from the Bank of England.

The FTSE 100 (. FTSE) slipped 0.5% by 0727 GMT. The midcap FTSE 250 index (. FTMC) fell 0.8%, on course for its most significant weekly decrease in 2 months.

Sterling extended losses on Friday to fall listed below $1.23 after the reserve bank cautioned on Thursday that Britain runs the risk of a double-whammy of an economic downturn and inflation above 10% as it raised rate of interest to their greatest because 2009. found out more

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British Airways-operator IAG ( ICAG.L) fell 6.8% as it reported a bigger-than-expected quarterly operating loss due to the effect of the Omicron variation and the expense of increase capability. found out more

Vacation Inn-owner IHG ( IHG.L) slipped 0.9% regardless of signalling a sharp rebound in the hospitality sector. found out more

In general, UK’s travel & & lesiure index (. FTNMX405010) fell 1.6%.

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Reporting by Sruthi Shankar in Bengaluru; Modifying by Sriraj Kalluvila

Our Standards: The Thomson Reuters Trust Concepts.

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