Get 40% Off
💰 Buffett reveals a $6.7B stake in Chubb. Copy the full portfolio for FREE with InvestingPro’s Stock Ideas toolCopy Portfolios

London's FTSE 100 propped up by oil strength, Ryanair slides

Published 20/05/2019, 08:54
London's FTSE 100 propped up by oil strength, Ryanair slides
UK100
-
BP
-
EZJ
-
SHEL
-
0RYA
-
FTMC
-
ICAG
-
LWB
-
WIZZ
-
MERL
-

(For a live blog on European stocks, type LIVE/ in an Eikon
news window)
* Oil stocks biggest support to main index
* Ryanair slumps after poor results
* Blue-chips IAG, easyJet also fall

May 20 (Reuters) - Britain's main share index found support
from oil majors on Monday after a signal from OPEC on sticking
to production cuts, while weak results from Ryanair triggered a
sell-off in airlines across the board.
The FTSE 100 .FTSE was flat by 0750 GMT, while the midcap
index .FTMC was fractionally lower.
Providing the biggest boost to the blue-chip index were
Shell RDSa.L and BP BP.L as oil prices touched multi-week
highs after OPEC indicated it would probably maintain production
cuts that have helped support prices this year. O/R
Ryanair's London-listed stock RYA.L fell 6% to a
four-month low after the low-cost airline reported its weakest
annual profit in four years amid struggles with overcapacity,
Brexit and delays in delivery of the Boeing 737 Max.
The poor reading dragged down British Airways owner IAG
ICAG.L , easyJet EZJ.L and Wizz Air WIZZ.L .
Among midcaps, a stand-out faller was Madame Tussauds-owner
Merlin Entertainments MERL.L which slipped 5.2% and was on
course for its biggest one-day fall in two months after a double
downgrade by HSBC. Small-cap Low & Bonar LWB.L tumbled 26% to a record low
after the polymer products maker announced CEO departure and cut
full-year targets due to a hit to sales from the U.S.-China
trade war.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.