* FTSE 100 steadies after hitting 14-year high
* London Stock Exchange gains after results
* Index less than 1 pct away from record peak
* Airlines weaken; RBC cuts easyJet target price
By Tricia Wright
LONDON, May 15 Britain's top share index
steadied after setting a 14-year high on Thursday, while shares
in the London Stock Exchange were up strongly after it
reported a near-50 percent rise in full-year revenue.
The blue-chip FTSE 100 index was up 7.89 points, or
0.1 percent, at 6,886.38 points by 1102 GMT, having climbed to
6,894.88 earlier in the session, the highest level since
December 1999 when it set a record high of 6,950.60 points.
The lifetime peak was less than 1 percent away from the
current level and analysts said the positive momentum following
record highs set by other indexes, such as Germany's DAX
and the Dow Jones industrial average in the
United States, would help the British index.
But the upside move might not be sustainable in the near
"The UK market is a in a very strong position to make new
highs but in the process, it will face a massive resistance at
1999's record high level," Petra von Kerssenbrock, technical
analyst at Commerzbank, said.
"The index could fall back after setting a record peak to
consolidate in order to prepare some ground to continue to move
to the upside."
LSE was among the top blue-chip performers, up 2.4 percent.
British Airways owner IAG and easyJet
bucked the slightly firmer market trend, extending runs of
profit-taking seen since their results, with both airlines
having jumped by more than 40 percent over the last 12 months.
Traders said an elevated oil price was partly to blame for
the share price falls, with Brent crude around
two-and-a-half-week highs above $110 a barrel. For table of jet
fuel hedging positions:
RBC cut its target price for easyJet, to 1,750 pence
from 1,800 pence, highlighting the difficulties set out by
easyJet in its results statement in forecasting passenger
behaviour this summer since people's holiday dates might be
based on whether their team was still in the World Cup soccer
Shares in easyJet were down about 4.6 percent and IAG down
(Additional reporting by Atul Prakash. Editing by Jane