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Restaurant Group shares dive 26% | |
(about 4 hours later) | |
(Close): Shares in Restaurant Group dived more than 25% after the owner of Chiquito and Frankie & Benny's cut its full-year profit forecast. | |
Shares fell 99p to 275p after the FTSE 250 firm said it had seen "a further deterioration in trading conditions". | |
It now predicts sales will fall by 2.5%-5%, and expects full-year profits to be between £74m and £80m. | It now predicts sales will fall by 2.5%-5%, and expects full-year profits to be between £74m and £80m. |
Restaurant Group added its chief financial officer, Stephen Critoph, was leaving with immediate effect. | Restaurant Group added its chief financial officer, Stephen Critoph, was leaving with immediate effect. |
The FTSE 100 closed 80 points, or 1.3%, lower at 6,241.89 points. | |
BA owner IAG was one of the the biggest fallers in the FTSE 100, with its shares down 4.7%. The airline group said it was slowing its growth plans after it saw weaker demand following the Brussels terror attacks. | |
The company - which also owns Iberia, Aer Lingus, and Vueling - also said it had seen weaker demand for its lucrative business and first class seats. | The company - which also owns Iberia, Aer Lingus, and Vueling - also said it had seen weaker demand for its lucrative business and first class seats. |
Royal Bank of Scotland was the biggest loser on the last trading day ahead of Monday's bank holiday, ending down 6% at 230p after the bank's first quarter losses more than doubled to £968m. | |
The bank said the widening loss was mainly due to a one-off dividend payment of £1.2bn to the UK government. Operating profits rose to £421m for the quarter, up from just £37m in 2015. | |
On the currency markets, the pound edged up 0.1% against the dollar to $1.4627, but fell 0.3% against the euro to €1.2828. | On the currency markets, the pound edged up 0.1% against the dollar to $1.4627, but fell 0.3% against the euro to €1.2828. |