skip to content

Market Wrap - Midday

Tragic terror attack weighs on airlines

18 August 2017 11:38

Thursday's terror attack in Barcelona unnerved the market and caused a slump in airlines, including British Airways owner International Consolidated Airlines (IAG) and easyJet (EZJ).

Investors were concerned that people would be less likely to go on holidays overseas due to the threat of further attacks, which could hit profitability at airlines.

IAG topped the blue-chip fallers with a 2.1% drop to 610.6p, while easyJet followed with a 1.6% tumble to £12.80.

Ryanair was also down 1.6% to 18.6p.

Other notable stock movers were cigarette sellers Imperial Brands (IMB) and British American Tobacco (BATS) which declined 1.5% and 1.3%, respectively.

As a result of the negative sentiment across the FTSE 100, the index slumped 1% to 7,314.

Brent crude oil was stable at $51 per barrel. Copper and gold were up 0.5% at $6,503 per tonne and 0.7% at $1,295 per ounce.


Political volatility at Washington continued to concern investors who questioned whether US President Donald Trump would be able to go ahead with his economic policies. This was sparked by media speculation that one of Trump's key economic advisers might quit.

The Nasdaq tumbled 1.9% lower overnight and the S&P 500 fell 1.5%.


AstraZeneca (AZN) dipped 1.2% to £44.27 on the joint announcement with Merck that it gained US approval for its Lynparza treatment for ovarian cancer. The market was unimpressed with the approval as the use for Lynparza was for two tablets twice daily instead of eight capsules twice a day, which could impact sales.


A warning over challenging weather conditions in certain regions took the shine off The Renewables Infrastructure Group's (TRIG) 63% rise in pre-tax profit. The stock retreated 0.5% to 108.3p.

Specialist investment trust Pershing Square (PSH) also suffered a weaker share price, down 1.4%, after returning -2.3% due to poor performances from a short position in Herbalife and a long position in Fannie Mae/Freddie Mac.


Internet video platform developer Forbidden Technologies (FBT) expanded an existing deal with 'an iconic sports, music and entertainment venue' in New York. Shares in the firm nudged 0.8% higher to 6p.

Newspaper distributor Connect (CNCT) said Mark Whiteling will join the company as a non-executive director and become a chairman on the audit committee after Gary Kennedy said he is stepping down. The stock rose 2.2% to 104.5p.

Story provided by

Related Company: IAG

Info Point:

To buy or sell shares call our Dealing Room on 0113 243 6941.

Too much jargon? Our glossary will help make sense of things.

Find out more about our Share Dealing Services.

Client Area Access

» Secure Login

» Not registered yet?

Bluezest Aberdeen

Branch Finder

Redmayne-Bentley have High Street branches throughout the UK. Find your nearest branch.