Business

FTSE 100 opens down in end of week trading

  • 31 July 2015
  • From the section Business
Trader in London

(Noon): The FTSE 100 begins Friday with falls in quiet end-of-week trading.

Lloyds Banking Group fell 2.4% after reporting £1.4bn more PPI provision. BA owner IAG, shares turned south - down 1.7% - after an initial gain on a strong rise in profits.

Broadcaster ITV was the biggest gainer on the 100 list, up more than 2% after it said US broadcaster Liberty Global had increased its stake to almost 10%.

The benchmark FTSE 100 index was down 13.89 at at 6,654.98 points.

BG was another early riser that turned tail. Shares at midday were down almost 1%. Core earnings nearly halved in the second quarter thanks to weak oil prices.

Thomas Cook shares fell 5%. Poor results on Thursday revealed it took a £25m charge on lost earnings because of the Tunisian terrorist shootings.

Shares in InterContinental Hotels were 3.2% lower. The company dashed takeover hopes saying it was not in talks with rival Starwood Hotels.

On the currency markets, the pound fell 0.2% against the dollar to $1.5574 and was down 0.55% against the euro at €1.4193.