IAG lower despite strong figures

British AirwaysFri: International Consolidated Airlines Group, owner of British Airways, were lower despite reporting a jump in third quarter profit.

Societe Generale said a negative share price reaction was likely given the strong performance of the stock, which is up 22%year-to-date. Shares fell 15p to 582.5p.

Royal Bank of Scotland fell after reporting a fall in profits as a result of restructuring costs. Shares were down 3p at 317.6p.

Meggitt bounced back after the aerospace and defence company suffered two days of heavy losses on the back of a profit warning.

Barclays posted disappointing third-quarter results in the previous session and its shares were down 5.25p at 232p.

Pets at Home shares dipped as a cooler summer lowered demand for tic and flea treatments with sales hit as a result. Same store sales growth fell to 1.8% for the 28 weeks to 8 October from 4.2% last year.

Cineworld shares plummeted 42p at 552p after analysts at Canaccord Genuity downgraded the stock to ‘sell’ saying it was time to take profits.

The FTSE100 index ended 0.5% lower at 6,361.09 points, although it registered its biggest monthly gains since July 2013.

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