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Ryanair comments hit airline shares | |
(about 4 hours later) | |
(Noon): Shares in airlines were hit after Ryanair warned its profit growth next year was likely to be modest. | |
Ryanair shares fell more than 4% after the warning, despite it increasing its profit forecast for the current financial year. | |
Shares in rival airlines also fell, with Easyjet down nearly 5% and British Airways owner IAG dropping 2.1%. | |
Despite the falls, the FTSE 100 rose 15.56 points to 6,764.96, helped by oil firms as the price of crude rebounded. | |
Brent crude rose more than $2 to climb above $55 a barrel, while US crude climbed $1.50 to $49.74 a barrel. | |
Tullow Oil shares were the biggest risers on the FTSE 100, climbing 6.7%, while Royal Dutch Shell was up by more than 3%. | |
Shares in building supplies firm CRH jumped 5.7% after it agreed to buy assets from France's Lafarge and Switzerland's Holcim. | |
Lafarge and Holcim are planning to merge to create the world's largest cement maker. They were told to sell assets to meet regulators' concerns. | Lafarge and Holcim are planning to merge to create the world's largest cement maker. They were told to sell assets to meet regulators' concerns. |
On the currency markets, the pound fell 0.32% against the dollar to $1.5018, and dropped 0.6% against the euro to €1.3268. | |