London markets climb as airlines take off

posted on 7th February 2022 by Eddie Saunders
London markets climb as airlines take off

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London markets jumped this morning driven by airlines taking off.

The capital’s premier FTSE 100 index climbed 0.54 per cent to 7,556.93 points, while the domestically-focused FTSE 250 index, which is more aligned with the health of the UK economy, added 0.73 per cent to reach 21,870.69 points.

British Airways owner IAG was the best performer on the capital’s top index during early exchanges, notching a two per cent gain in its share price to send it to the top of the biggest risers’ column.

Predictions over a sharp recovery in international travel in the coming months as the Omicron wave sweeping across Europe eases has lifted sentiment toward airlines.

Short haul airline and FTSE 250 listed firm easyJet was among the best performers on the mid-cap index before giving up some gains.

Banks provided some support to airlines, with high street lenders Barclays and Lloyds adding 1.2 per cent and 1.23 per cent respectively.

Property search site Rightmove threatened the summit of the FTSE 100 despite fresh house price data released this morning by Halifax indicating the UK property market is cooling. Prices climbed at the slowest pace since June 2021.

The pound was broadly flat against the dollar.