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FTSE falls but airline shares rise | FTSE falls but airline shares rise |
(about 2 hours later) | |
(Noon): The benchmark FTSE 100 index fell, despite a rise in airlines shares which was helped by an upbeat trading update from Easyjet. | |
Easyjet rose 3.7% after it forecast a first half loss of £10m-£30m, which was lower than expected and better than a £53m loss last year. | |
IAG rose 1.6% after Aer Lingus said it was willing to accept the €1.36bn (£1bn) offer from the airline group. | |
IAG has also been allowed to begin due diligence on Aer Lingus' books. | |
The FTSE 100 index was down 37.43 points at 6,814.97. The latest GDP figures, which showed that the UK economy slowed in the fourth quarter of 2014, provoked little reaction. | |
Dixons Carphone was the biggest faller in the index, with its shares down nearly 5% after Morgan Stanley cut its rating on the company to "underweight". | |
Energy shares slid as the price of Brent crude fell to around the $48-a-barrel level. | |
On the currency markets, the pound fell 0.02% against the dollar to $1.5080 and dropped 0.33% against the euro to €1.3375. |