Citywire printed articles sponsored by:
View the article online at http://citywire.co.uk/wealth-manager/article/a623335
Shares in BA owner boosted by reports of oneworld expansion
by Chris Marshall on Oct 02, 2012 at 16:59
Shares in British Airways owner International Airlines Group topped the FTSE 100 on Tuesday amid reports that Qatar Airways will become the first Gulf carrier to join oneworld, the alliance of global airlines which counts BA among its members.
IAG (ICAG.L) shares rose by 4.7p or 3% to 159p. The reports have not however been confirmed, with Qatar Airways chief executive officer Akbar Al Baker telling Bloomberg that the airline 'is open to joining any alliance' in the industry.
Tesco (TSCO.L) was among other blue chip risers, ending the day up 5.7p or 1.7% to 336p, ahead of tomorrow’s eagerly awaited half-year results, when investors will look for signs of improvement in the group’s core UK business.
Shares in Wolseley (WOS.L) bounced around all day, before ending 15p or 0.5% lower at 2,668p. The plumbers’ supplier this morning announced plans to raid its cash pile for a special dividend, alongside trading numbers that met expectations.
You can see the day's other risers and fallers on our FTSE home page.
Stock markets around the world put in a topsy-turvy showing, with the FTSE 100 ending down 11 points at 5,809. Most other European markets were lower, while in the US – with little major economic data to sway investors – the Dow Jones dropped 0.2% to 13,486, while the S&P 500 was flat at 1,444.
The fate of Spain remains a hot topic, with some support offered to the euro – up 0.5% to $1.296 against a weak dollar – by speculation of an imminent bailout.
However, Spanish prime minister Mariano Rajoy last night denied that he would seek a bailout this weekend, according to the Spanish press.
Meanwhile, according to Reuters European officials said that Madrid was ready to make a request for aid, but that Germany would prefer the crisis-struck country to hold off for now.
While the guessing game continues over Spain’s plans to request aid, investors are looking to announcements at the conclusion of central bank meetings on Thursday – when both the European Central Bank and Bank of England decide on monetary policy – as well as information on the health of the US labour market from the non-farm payrolls report due on Friday.
News sponsored by:
Subscribe to Wealth Manager magazine and rack up CPD points
Citywire Wealth Manager has partnered with CISI to enrich the experience of subscribers to our magazine.
Today's top headlines
More about this:
Look up the shares
More from us
- Investors wary of stuck in a rut Tesco
- Wolseley special dividend plan lures investors
- FTSE risers and fallers
What others are saying
Aberdeen Live supplement: Fundamentals point to ongoing flows and solid returns from EMD
After a record year for inflows and market-leading performance in 2012, emerging market debt has taken a large step towards the mainstream. Our recent debate covers the outlook for the asset class this year and where opportunities can be found.
On the road
by Dylan Lobo on May 16, 2013 at 16:17