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Banks lead FTSE 100 higher; airlines hit by Lufthansa warning

Published 17/06/2019, 08:30
Banks lead FTSE 100 higher; airlines hit by Lufthansa warning
UK100
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HSBA
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EZJ
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LHAG
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SRP
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BAB
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FTMC
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FTNMX301010
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ICAG
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WIZZ
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(For a live blog on European stocks, type LIVE/ in an Eikon
news window)
* FTSE 100 up 0.1%, FTSE 250 up 0.2%
* Banks top boost to main index
* Lufthansa's profit alert hurts airlines
* Babcock rises after confirming takeover bid

June 17 (Reuters) - London's main stock index inched higher
on Monday in line with marginal gains across Europe, as rises in
banking shares outweighed the impact of a profit warning from
Germany's Lufthansa on airlines.
The FTSE 100 index .FTSE was up 0.1% by 0721 GMT, while
the FTSE 250 midcap index .FTMC gained 0.2%.
With all eyes on Wednesday's U.S. Federal Reserve policy
decision, the banking index .FTNMX8350 broke a four-day losing
streak, led by Asia-exposed banks including HSBC HSBA.L and
Standard Chartered after Hong Kong's leader backed down over an
extradition bill that has sparked mass protests. British Airways owner IAG ICAG.L and easyJet EZJ.L both
gave up around 3% on the main bourse after Lufthansa LHAG.DE
cut its 2019 profit outlook due to competition from low-cost
rivals in Europe. Mid-cap component Wizz Air WIZZ.L also dropped 4.4%.
Engineering services group Babcock BAB.L added 3.5% after
the company confirmed a media report that it had received and
rejected a highly preliminary takeover bid from rival Serco
SRP.L earlier this year.

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