The FTSE 100 approached the weekend on the back foot following what’s been a muted week for London’s lead index.
All eyes were on NatWest group though, which delved into third-quarter earnings after a week of intense scrutiny over its handling of the Nigel Farage ‘debanking’ scandal. Aside from laying out higher profit and lower margins, NatWest backed the closure of Farage’s Coutts account earlier this year as lawful, but admitted to “serious failings” in his treatment.
In other news, British Airways owner IAG announced its best-ever third-quarter results this morning, with a 43% jump in operating profit coming on the back of returning travel demand.
Digital challenger bank Monzo is reportedly in talks to raise £300 million as part of fundraising plans ahead of a possible IPO.
And finally, across the Atlantic, Ford is set to scale back its electric vehicle investment plans by billions of dollars based on customer demand.