IAG, the owner of British Airways, increases guidance while the FTSE 100 rises but falls short of its highs.
The FTSE 100 is up 47 points as of Friday morning, and the pound has risen above US$1.26, levels last reached in June 2022.
“After falling to a one-month low on Thursday, the FTSE 100 is trading higher lifted by British Airways’ parent company IAG who has taken to the skies following first-quarter earnings,” says Victoria Scholar, head of Investment at Interactive Investor.
As we approach the coronation weekend in the UK, the FTSE 100 ignored worries about midsized US banks this morning and opened higher.
IAG, the company that owns British Airways, has seen its shares jump the most today in terms of percentage gains, helped by an increase in its full-year estimate based on strong forward bookings and its first first-quarter profit growth since 2019.
IHG, however, is a different situation. After just delivering a great set of first-quarter earnings that were bolstered by loosening Chinese travel restrictions, chief executive Keith Barr said he would be retiring at the end of June.
Right Move reports that mortgage rates have started to show some signs of stabilising in the housing market, yet difficulties still exist for first-time buyers who are still shelling out £200 more than they did a year ago.
FTSE 100 TECHNICAL ANALYSIS DAILY CHART:
FTSE 100 is currently trading in up channel.
FTSE 100 is currently trading below 5&20 SMA.
RSI is in buying zone which suggests bullishness and Stochastic is suggesting downtrend.
Immediate resistance is at 7738.1 & its immediate support level is 7686.7
HOW TO TRADE FTSE 100 IN THIS WEEK
The FTSE 100 index is increasing after making a strong move, and after a brief period of adjustment, the price has resumed rising once more. At this point, the index is hitting resistance; if it is broken, further gains are to be expected.