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FTSE 100 falls but airline shares rise



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FTSE 100 Index

Last Updated at 21 Feb 2018, 16:36 GMT *Chart shows local time FTSE 100 intraday chart
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(Close): The benchmark FTSE 100 index fell, despite a rise in airlines shares which was helped by an upbeat trading update from Easyjet.

Easyjet rose 1.9% after it forecast a first half loss of £10m-£30m, which was lower than expected and better than a £53m loss last year.

IAG rose 2.2% after Aer Lingus said it was willing to accept the €1.36bn (£1bn) offer from the airline group.

IAG has also been allowed to begin due diligence on Aer Lingus' books.

The FTSE 100 index was down 40.79 points, or 0.6%, at 6,811.61. The latest GDP figures, which showed that the UK economy slowed in the fourth quarter of 2014, provoked little reaction.

Dixons Carphone saw its shares slide nearly 5% at one point after Morgan Stanley cut its rating on the company to "underweight" and closed the day 2.4% lower.

On the currency markets, the pound ended the day 0.7% higher against the dollar at $1.5195 and dropped 0.4% against the euro to €1.3362.