FTSE 100 slips as British Airways, virus concerns weigh

  • Reuters
  • Stock Market News
FTSE 100 slips as British Airways, virus concerns weigh
Credit: © Reuters.

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* FTSE 100 down 0.8%, FTSE 250 loses 0.4%

Oct 22 (Reuters) - The FTSE 100 retreated on Thursday after British Airways-owner IAG posted a quarterly loss, while investors looked to a parliament address later in the day by Finance Minister Rishi Sunak on the economic outlook.

The blue-chip FTSE 100 index .FTSE fell 0.8%, with IAG ICAG.L sliding 5% as the airline group further downgraded its capacity outlook for the rest of the year due to coronavirus-related travel restrictions. domestically-focussed mid-cap FTSE 250 index .FTMC lost 0.4%, dragged by declines in real estate .FTUB8600 and industrial .FTNMX2720 stocks.

Sunak is expected to unveil additional measures to help struggling firms, media reports said, as he faces growing pressure to offer more support to businesses and workers hit by tightening COVID-19 lockdown rules. ULVR.L rose 0.8% after it reported a stronger-than-expected return to sales growth in the third quarter, led by emerging markets where it generates the bulk of its revenue.

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