Business

FTSE 100 falls as IAG hit by BA's IT failure

Market trader (file picture) Image copyright Getty Images

British Airways owner IAG pulled the UK market lower as investors reacted to the weekend's IT failure.

Shares in IAG closed 1.4% lower after dropping as much as 4% as the airline group counted the cost of three days of disruption.

BA says it is now operating a full flight schedule at Heathrow and Gatwick.

The FTSE 100 fell back from Friday's record close, and ended 24 points lower at 7,522.9.

Elsewhere in the airline sector, shares in Easyjet fell before reversing track to end 0.8% higher.

Ryanair opened lower - despite the carrier reporting record annual profits - but then gained altitude to close up 2.3%.

Shares in the London Stock Exchange group edged up 1.4% after the company said it had agreed to buy a fixed-income platform from US bank Citigroup for $685m (£535m).

The biggest riser on the FTSE 100 was 3i Group, up 2.3%, while Mediclinic International was the biggest faller, down 3.5%.

On the currency markets, the pound edged up 0.2% against the dollar to $1.2871, and was also 0.2% higher against the euro at 1.1504 euros.