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Ryanair comments hit airline shares | Ryanair comments hit airline shares |
(about 4 hours later) | |
(Close): Shares in airlines were hit after Ryanair warned its profit growth next year was likely to be modest. | |
Ryanair shares closed 6% lower after the warning, despite it increasing its profit forecast for the current financial year. | |
Shares in rival airlines also fell, with Easyjet down 6.4% and British Airways owner IAG dropping 2.8%. | |
Despite the falls, the FTSE 100 rose 33.15 points to 6,782.55, helped by oil firms as the price of crude rebounded. | |
Brent crude rose more almost 3% to climb above $54.55 a barrel, while US crude climbed 3.3% to $49.25 a barrel. | |
Tullow Oil shares were the biggest risers on the FTSE 100, climbing 9.3%, while Royal Dutch Shell rose by 2.5%. | |
Shares in building supplies firm CRH jumped 7.2% 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 0.19% against the dollar to $1.5038, and dropped 0.69% against the euro to €1.3254. |