IAG shares lift as British Airways names new boss

Top flight shares struggled for direction yesterday, even after British Airways owner International Airlines Group (IAG) upgraded its targets and announced a new boss at the UK carrier.

IAG shares lift as British Airways names new boss

IAG boosted its average earnings per year by 12% to €5.6bn, adding that the chief executive of low-cost airline Vueling, Alex Cruz, will replace Keith Williams, who is retiring as chairman and chief executive of British Airways next April.

The FTSE 100 Index fell 11.1 points to 6353.8, in a lacklustre session which saw traders largely unmoved by the announcement of strong US new job numbers in October. IAG lifted 21.5p at 602p.

France’s Cac 40 was up 0.1%, while Germany’s DAX rose 0.9%.

The pound is down a cent against the US dollar at just over $1.51 after US employers created 271,000 jobs in October, a robust figure following two weak months, which may set the stage for the Federal Reserve to hike interest rates next month. Sterling was a cent up against the euro at €1.40.

BHP Billiton was the strongest faller in the top flight after a dam burst at the Brazilian iron-ore operation, called Samarco, it jointly owns with Brazil’s Vale.

There are reports of fatalities and injuries to more than 30 people at the site, which produces around 30m tonnes of iron ore a year.

Shares at BHP Billiton fell almost 6%, or 59p at 975p.

Elsewhere, telecoms group TalkTalk was a strong riser in the FTSE 250 after it said the details of 156,959 customers and 15,656 bank account numbers accessed in last month’s cyber attack was much less than feared.

Shares in TalkTalk rose more than 2%, to 226.1p.

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