UK market update – IAG, BP, THG, Flutter Entertainment, Avast


© Reuters.

By Samuel Indyk – At 07:23GMT, FTSE 100 futures are trading lower by 0.3% at 7250.

In FX markets, GBP/USD is trading at 1.3505, EUR/GBP is trading at 0.8560. The US Dollar Index is down 0.05%.

Today’s calendar highlights include US Nonfarm Payrolls, Eurozone Retail Sales, Canadian Employment Change.


UK house prices rose 0.9% in October, according to Halifax. On an annual basis, prices rose 7.3%, slightly below the 7.4% increase in September. 


IAG (LON:ICAG) – Q3 passenger capacity 43.4% of 2019 levels, up from 21.9% in Q2. Current capacity plans for Q4 are about 60% of 2019 levels. Q3 reported operating loss of €452 million. Expects 2021 operating loss before exceptional items to be approximately €3.0 billion.

BP (LON:BP) – Reportedly in talks to buy JX Nippon’ Exploration and Production Stake in North Sea Andrew Area oil and gas fields.

Avast (LON:AVST) – NortonLifeLock shareholders approve merger with Avast.

Beazley (LON:BEZG) – Q3 gross premiums written increased by 29% to $3.271 billion. Premium rates on renewal business increased by 23%, ahead of company expectations. Q3 catastrophe loss estimates are $125 million net of reinsurance, $85 million in respect of Hurricane Ida and $40 million for European floods.

Airtel Africa (LON:AAF) – Subsidiary Smartcash has been granted approval in principle to operate a payment service bank business in Nigeria.

4Imprint (LON:FOUR) – In H2 to the end of October, weekly order totals have averaged 2% above 2019 levels despite the primary US market being impacted by the Delta variant. Expects that the Group’s full year financial performance will be in line with expectations.

Morgan Advanced Materials (LON:MGAMM) – 9-month sales up 8.9% on an organic constant currency basis YoY. Expect full year organic constant-currency growth to be around the top end of previous guidance range of 7-9%.

Vietnam Enterprise Investments (LON:VEILV) – For the first 9 months of 2021, NAV was up 38.1% versus 24.5% for the VNI Index.

British American Tobacco (LON:BATS) – Has reportedly requested Japanese lawmakers introduce higher tax on cigarettes. The move comes as Japan is set to increase its tobacco tax for heat-not-burn tobacco products, rather than cigarettes.

Flutter Entertainment (LON:FLTRF) – Upgraded to buy from hold at Berenberg.

THG (LON:THG) – Downgraded to neutral from overweight at JPM.

London Stock Exchange Group (LON:LSEG) – Initiated with a buy at Goldman Sachs (NYSE:GS).


Stelrad – Successfully priced IPO at 215 pence per share, giving market cap of approximately £274 million.

UK market update – IAG, BP, THG, Flutter Entertainment, Avast

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.


Please enter your comment!
Please enter your name here