Jul 24, 2017

FTSE 100 lower as airline shares fall

Shares in airlines opened lower after comments from Ryanair raised fears of a price war in the sector. Ryanair said it could cut fares by as much as 9% on some routes in the next few months as competition intensified. Its comments overshadowed news of a 55% rise in first-quarter profits, and Ryanair's shares fell 4.5%. Shares in rival airlines were also hit. EasyJet fell 3% and British Airways owner IAG dropped 2.5%. The FTSE 100 was down 38.13 points at 7,414.78. In the FTSE 250, shares in discount retailer B&M rose 4.4% following reports at the weekend that it could be a takeover target for Asda.

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