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Ryanair comments hit airline shares



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Last Updated at 21 Feb 2018, 16:36 GMT *Chart shows local time FTSE 100 intraday chart
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(Close): Shares in airlines were hit after Ryanair warned its profit growth next year was likely to be modest.

Ryanair shares closed 6% lower after the warning, despite it increasing its profit forecast for the current financial year.

Shares in rival airlines also fell, with Easyjet down 6.4% and British Airways owner IAG dropping 2.8%.

Despite the falls, the FTSE 100 rose 33.15 points to 6,782.55, helped by oil firms as the price of crude rebounded.

Brent crude rose more almost 3% to climb above $54.55 a barrel, while US crude climbed 3.3% to $49.25 a barrel.

Tullow Oil shares were the biggest risers on the FTSE 100, climbing 9.3%, while Royal Dutch Shell rose by 2.5%.

Shares in building supplies firm CRH jumped 7.2% after it agreed to buy assets from France's Lafarge and Switzerland's Holcim.

Lafarge and Holcim are planning to merge to create the world's largest cement maker. They were told to sell assets to meet regulators' concerns.

On the currency markets, the pound fell 0.19% against the dollar to $1.5038, and dropped 0.69% against the euro to €1.3254.