FTSE 100 movers: IAG flies higher; miners under the cosh

8th May 2024 14:30

(Sharecast News) - London's FTSE 100 was up 0.5% at 8,358.04 in afternoon trade on Wednesday.

BA and Iberia owner IAG was the standout gainer on the index, having fallen on Tuesday after Ryanair CEO Michael O'Leary said airfares were likely to be lower than expected this summer. IAG's first-quarter results are due out on Friday 10 May.

Informa jumped as the B2B events, publishing and data group lifted its share buyback programme by 50% and announced a strong operating performance for the first four months of the year, with revenues, profits and cash flow expected to reach the upper end of guidance.

The company said it has raised its 2024 share repurchase programme by a further £160m to £500m.

Diageo fizzed higher, likely on positive read-across from AB InBev, after the Belgian beverages giant reiterated its full-year guidance following better-than-expected first-quarter volumes.

Miners were under the cosh, with Antofagasta, Glencore and Rio Tinto all down.

FTSE 100 - Risers

International Consolidated Airlines Group SA (CDI) (IAG) 182.95p 2.96%

Beazley (BEZ) 659.00p 2.49%

Informa (INF) 853.20p 2.45%

Halma (HLMA) 2,333.00p 2.15%

Diageo (DGE) 2,809.50p 1.85%

RS Group (RS1) 801.50p 1.72%

Pearson (PSON) 1,011.50p 1.39%

Tesco (TSCO) 308.60p 1.38%

Melrose Industries (MRO) 599.00p 1.35%

Diploma (DPLM) 3,800.00p 1.33%

FTSE 100 - Fallers

Ocado Group (OCDO) 350.10p -2.81%

Intermediate Capital Group (ICG) 2,136.00p -2.39%

Antofagasta (ANTO) 2,147.00p -2.27%

JD Sports Fashion (JD.) 116.55p -1.89%

BP (BP.) 495.35p -1.74%

Phoenix Group Holdings (PHNX) 509.00p -1.64%

Glencore (GLEN) 460.35p -1.58%

BT Group (BT.A) 103.85p -1.52%

Rio Tinto (RIO) 5,515.00p -1.32%

Flutter Entertainment (DI) (FLTR) 15,965.00p -1.27%