UK’s blue-chip index slipped on Friday, with British Airways owner falling the most after disappointing earnings, while worries about the economy weighed on the mood after a recession warning from the Bank of England.
The FTSE 100 slipped 0.5% by 0727 GMT. The midcap FTSE 250 index fell 0.8%, on course for its biggest weekly decline in two months.
Sterling extended losses on Friday to fall below $1.23 after the central bank warned on Thursday that Britain risks a double-whammy of a recession and inflation above 10% as it raised interest rates to their highest since 2009.
British Airways-operator IAG fell 6.8% as it reported a bigger-than-expected quarterly operating loss due to the impact of the Omicron variant and the cost of ramping up capacity.
Standard Chartered leads FTSE 100 higher in earnings-driven session
Holiday Inn-owner IHG slipped 0.9% despite signalling a sharp rebound in the hospitality sector.
Overall, UK’s travel & lesiure index fell 1.6%.
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