FTSE 100 higher after China GDP data; IAG climbs
- Country:
- United Kingdom
London's FTSE 100 joined a rally in global bourses on Friday as China's economic growth met expectations despite its trade war with the United States, while IAG jumped after it scrapped a rule capping ownership of its shares by non-Europeans.
China's 2019 growth of 6.1% was its weakest in nearly three decades, but signs of an improvement in business confidence after de-escalation of its trade dispute with Washington gave investors cause for comfort. The FTSE 100 added 0.3%, partly boosted by British Airways owner IAG, which rose 4.3% to its highest level since Sept. 2018.
NMC Health climbed 6% to the top of the blue-chip bourse after an independent review committee tapped a former Federal Bureau of Investigation director to compile a report on allegations by U.S. firm Muddy Waters. The midcap FTSE 250 advanced 0.2%. But motor insurer Hastings slid 8% after it forecast a slump in annual earnings and lower dividend, and dragged blue-chip peer Admiral down 4%.
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)
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- IAG
- FTSE
- London
- United States
- China
- British Airways
- Federal Bureau of Investigation
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