FTSE 100 movers: IAG flies lower after Heathrow boss warning; utilities gain

(Sharecast News) - London's FTSE 100 was down 0.3% at 8,641.02 in afternoon trade on Friday. BA and Iberia owner IAG flew lower. It came after the chief executive of Heathrow Airport warned that it could cost as much as £1bn to install a more resilient power system to prevent another outage like last week's, with airlines potentially having to contribute by lifting their prices.

Separately, on Thursday Reuters reported that IAG will consider selling its 20% stake in Air Europa as its Spanish owner continues talks with Air France-KLM and Lufthansa to sell a stake in the company.

IAG's chief executive told Reuters: "It's something that we are going to decide when (Globalia) take a decision about what they do with the company (Air Europa). We can stay or we can leave.

Utilities, which are defensives stocks, were the best performers on the index, with SSE, United Utilities, Severn Trent and National Grid all up.

SSE was also in focus after saying it has promoted its chief commercial officer Martin Pibworth to the CEO position, replacing current boss Alistair Phillips-Davies who will formally leave the company this summer.

FTSE 100 - Risers

Croda International (CRDA) 2,988.00p 3.32% SSE (SSE) 1,595.50p 3.17% United Utilities Group (UU.) 1,005.00p 2.87% Severn Trent (SVT) 2,502.00p 2.63% National Grid (NG.) 1,007.00p 2.61% Land Securities Group (LAND) 553.50p 2.31% LondonMetric Property (LMP) 182.90p 1.84% Sainsbury (J) (SBRY) 241.20p 1.77% Vodafone Group (VOD) 73.52p 1.77% Coca-Cola HBC AG (CDI) (CCH) 3,522.00p 1.67%

FTSE 100 - Fallers

International Consolidated Airlines Group SA (CDI) (IAG) 281.30p -3.27% Melrose Industries (MRO) 500.40p -3.14% CRH (CDI) (CRH) 6,952.00p -2.77% Rolls-Royce Holdings (RR.) 775.80p -2.66% Anglo American (AAL) 2,263.50p -2.52% BP (BP.) 435.20p -2.42% Barclays (BARC) 296.30p -2.37% Spirax Group (SPX) 6,430.00p -2.13% Diploma (DPLM) 3,926.00p -1.95% Entain (ENT) 623.40p -1.83%