FTSE flat despite Lloyds dividend

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FTSE 100 Index

Last Updated at 07 Feb 2018, 11:16 GMT *Chart shows local time FTSE 100 intraday chart
value change %
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Scottish Mortgage Inv Trust

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Smurfit Kappa Group

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(Close): The FTSE 100 was almost unchanged on Friday, despite strong results from Lloyds and airline group IAG.

The FTSE 100 ended the day down 3.1 points, at 6,946.66.

Shares in BA owner IAG rose 3.7% after the company reported a big jump in full-year profits, and raised its 2015 forecast by 20%.

Lloyds Banking Group climbed 0.6% after it posted rising profits and confirmed it would resume paying a dividend.

The rest of the banking sector was mixed. Standard Chartered shares gained 1.5% as investors continued to react to Thursday's news that its chief executive, Peter Sands, is to be replaced by ex-JP Morgan banker Bill Winters.

However, shares in Royal Bank of Scotland shed 5%, a day after it announced another full-year loss.

In other market news, publisher Pearson rose 1.7% after reporting underlying adjusted annual operating profits of 5%, in line with analysts' expectations.

Investors were cheered by Pearson's pledge that earnings growth would resume this year after a two-year restructuring programme.

Bookmaker William Hill fared less well, falling 3.3% after releasing first-quarter results that showed revenues had fallen below expectations.

Shares in property website Rightmove jumped more than 13.4% after it reported a 26% rise in full-year profit to £122m.

On the currency markets, the pound rose 0.2% against the dollar to $1.5437 and by 0.2% against the euro to €1.3790.