1. British Airways owner IAG returns to profit
The owner of airlines such as British Airways and Iberia posted a pre-tax profit of €73mln for the second quarter, up from a loss of more than €1.12bn in the equivalent period of 2021. Operating profits before exceptional items came in at €287mln in the quarter, compared with a loss of €1.04bn.
2. ASOS and other retailers under investigation
ASOS said it will co-operate with the Competition and Markets Authority’s (CMA) investigation after the regulatory body said it will look into ‘green’ claims made by the fashion retailer.
3. Pantheon exceeding expectations in Alaska
Pantheon Resources told investors that results to date from the Alkaid-2 well in Alaska are exceeding expectations, with the vertical section of the well encountering higher quality reservoirs.
4. FTSE 100 closes out July positively
At the close, the UK blue-chip index was up 78.18 points, or 1.1% at 7,423.23, just below the morning peak of 7,441.20 and well above the opening low of 7,345.25.
5. Energy discount is set to come into play in October
Some 29mln British households will start to receive energy bill discounts from this October, with the UK government offering a £400 discount across households in England, Wales, and Scotland.