FTSE 100 movers: IAG flies higher; Rightmove retreats after results

London’s FTSE 100 was down 2% at 6,519.20 in afternoon trade on Friday.

Rightmove fell after it reported a drop in full-year profit as revenue took a hit after it gave discounts to customers during the coronavirus pandemic.

Shopping centre owners British Land and Land Securities - both of which gained earlier in the week amid the prospect of non-essential retailers and outdoor hospitality reopening in April - were weaker.

British Airways and Iberia parent IAG flew higher despite swinging to a massive €7.4bn annual operating loss and pulling guidance for 2021, reflecting the impact of the Covid-19 crisis. The loss compares with a profit of €2.61m a year ago.

Airlines more generally were trading up, perhaps buoyed by the prospect of EU vaccine passports.

Flutter Entertainment was also in the black after JPMorgan Cazenove maintained its ‘neutral’ rating on the shares but lifted the price target to 14,790p from 11,200p.

RSA Insurance gained after it posted a rise in full-year operating profit ahead of its £7.2bn takeover by Denmark's Tryg and Canada's Intact Financial.

FTSE 100 - Risers

International Consolidated Airlines Group SA (CDI) (IAG) 193.20p 3.73%
Reckitt Benckiser Group (RB.) 6,004.00p 0.91%
Kingfisher (KGF) 265.40p 0.61%
Flutter Entertainment (FLTR) 13,920.00p 0.29%
AstraZeneca (AZN) 7,017.00p 0.10%
Tesco (TSCO) 227.40p 0.09%
Rentokil Initial (RTO) 471.30p -0.11%
London Stock Exchange Group (LSEG) 9,696.00p -0.14%
Croda International (CRDA) 6,226.00p -0.22%
RSA Insurance Group (RSA) 674.60p -0.24%

FTSE 100 - Fallers

British Land Company (BLND) 490.00p -5.70%
Anglo American (AAL) 2,794.00p -5.40%
Rightmove (RMV) 573.60p -5.35%
Scottish Mortgage Inv Trust (SMT) 1,150.00p -3.85%
Land Securities Group (LAND) 663.90p -3.78%
Evraz (EVR) 576.60p -3.64%
BP (BP.) 293.90p -3.50%
BAE Systems (BA.) 484.70p -3.37%
Legal & General Group (LGEN) 260.90p -3.26%
Imperial Brands (IMB) 1,354.50p -3.25%