viewInternational Consolidated Airlines Group

Market report: FTSE falls as hopes of US stimulus package before election wanes

FTSE 100 opened lower amid continued scepticism about a US stimulus package before next month’s election. London’s index of big caps dived 40 points to 5,735 in early trading.  

Chancellor Rishi Sunak is expected to announce more support for workers in areas placed under tier 2 of local lockdown. Businesses forced to shut in the higher tier 3 get more government support than those in tier 2.  

British Airways owner International Consolidated Airlines Group (LON:IAG) has cut capacity by 70% in the three months to December. The carrier no longer expects to reach breakeven during the quarter.  

Tesla plans to deliver half a million electric cars this year though it admitted the pandemic is making the process more challenging. Quarterly profits jumped 57% to US$331mln on revenue up 28% to US$8bn.  

Among the small caps, genedrive PLC (LON:GDR) said it is now generating “very promising data” from its coronavirus (COVID-19) test, targeted for release in the first quarter of next year, having recently completed the assay design. Using the point-of-care technology, results can be generated in 15 minutes for a positive sample, while a negative takes five minutes longer.

Futura Medical PLC (LON:FUM) shares shot higher after it said it had made regulatory progress in the US and was garnering significant commercial interest for its erectile dysfunction (ED) gel.  In an update, investors were told discussions were taking place with a “growing number” of potential partners.

Crossword Cybersecurity PLC (LON:CCS) has been accepted onto the UK Government G-Cloud framework version 12 in the 'cloud software' and 'cloud support' categories. The framework enables public sector organisations to procure Crossword’s Rizikon Assurance and Consulting cyber-risk management tools.



Quick facts: International Consolidated Airlines Group


Price: 171.5 GBX

Market Cap: £8.51 billion

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...


CBD Science looks to raise £2M in Series A to advance its plant-based...

CBD Science Group PLC CEO Dr Michael Raymont joined Proactive New York to discuss the London, England-based group's Series A funding round, on the Crowd for Angels platform. Raymont says the privately-held company, which is developing plant-based cannabinoid pharmaceutical therapeutics to...

2 hours, 51 minutes ago

2 min read