July 31, 2020 / 7:31 AM / 8 days ago

FTSE 100 set for monthly declines, pressured by pandemic woes

(For a live blog on European stocks, type LIVE/ in an Eikon news window)

* FTSE 100, FTSE 250 flat after mixed earnings

July 31 (Reuters) - London’s FTSE 100 was set for its first monthly decline since the coronavirus-driven crash in March as a historic slump in the U.S. economy fanned fears of a slower global recovery, while British Airways-owner IAG slipped on plans to raise equity.

IAG shed 5.3% as it said it would raise about 2.75 billion euros ($3.27 billion) in a capital increase backed by its biggest shareholder, Qatar Airways, to strengthen its finances after the pandemic wiped out global travel.

NatWest Group tumbled 0.9% after posting a first-half loss due to swelling loan loss provisions.

The FTSE 100, however, was flat on Friday, helped by a 1.1% gain for British American Tobacco as it reported a better-than-expected first-half profit on strong demand from the United States, its biggest market.

The mid-cap FTSE 250 was also flat, with losses for industrial, financial and consumer discretionary stocks countered by gains in materials, real estate and tech-related stocks. (Reporting by Sagarika Jaisinghani in Bengaluru; Editing by Bernard Orr)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below