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BA owner takes off after Ryanair clearance

Fri close:  IAG, the owner of British Airways, rose 3.2% after budget airline Ryanair said it would accept an IAG offer for its stake in Aer Lingus, paving the way for the €1.3 billion takeover of the Irish carrier to go ahead.

Taylor Wimpey and Barratt Developments climbed 2.3% and 1.8% respectively after the government announced measures in England to help boost housebuilding.

Hopes of a deal on the Greek debt problem helped the FTSE100 climb to its highest level in more than a week.

The index closed 91.75 pts or 1.4%  higher at 6,6673.38 points after hitting an intra-day high of 6,687.57 points, the highest since late June, and building on a 91 point gain in the previous session.

Eurogroup President Jeroen Dijsselbloem said eurozone finance ministers may make a “major decision” when they hold a special meeting on Saturday to consider a new Greek proposal for emergency funding.

“For Greece, it looks like the majority of the euro zone want to find a compromise and this is boosting sentiment,” said Tony Cross, market analyst at Trustnet Direct.

 

 

 

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