FTSE 100 movers: IAG flies higher on results; IMI in the red

(Sharecast News) - London's FTSE 100 was down 0.1% at 7,682.61 in afternoon trade on Friday. British Airways and Iberia owner IAG surged after it posted a record first-half profit as it hailed a strong performance across the group.

In the six months to 30 June, the company swung to an operating profit before exceptional items of €1.3bn from a loss of €466m in the same period a year earlier. IAG pointed to sustained strong demand across the network, and a particularly strong showing from the Spanish business.

Total revenue rose to €13.6m during the half from €9.4m.

Pharmaceuticals giant AstraZeneca gained sharply as its second-quarter results beat estimates.

StanChart rallied as it lifted annual guidance and launched a $1bn share buyback after first-half profits rose 20% on the back of soaring interest rates.

NatWest edged up as it reported better-than-expected interim profits only days after it was rocked by the resignation of chief executive Alison Rose over the leaking of details of Nigel Farage.

The bank posted pre-tax profit of £3.6bn, up from £2.6bn a year earlier and better than the £3.3bn estimated by analysts. It also announced a £500m share buyback.

Intertek rose after results, while IMI fell.

FTSE 100 - Risers

International Consolidated Airlines Group SA (CDI) (IAG) 163.45p 5.49% AstraZeneca (AZN) 11,148.00p 4.19% Standard Chartered (STAN) 737.80p 4.00% NATWEST GROUP (NWG) 247.00p 2.96% Intertek Group (ITRK) 4,380.00p 2.55% Airtel Africa (AAF) 116.40p 2.46% Rolls-Royce Holdings (RR.) 193.35p 1.98% Ocado Group (OCDO) 967.00p 1.51% Unilever (ULVR) 4,224.00p 1.04% BAE Systems (BA.) 930.80p 1.02%

FTSE 100 - Fallers

St James's Place (STJ) 954.80p -3.89% Admiral Group (ADM) 2,205.00p -3.03% IMI (IMI) 1,600.00p -2.74% Aviva (AV.) 389.70p -2.43% Anglo American (AAL) 2,369.00p -2.39% Kingfisher (KGF) 246.50p -2.30% Beazley (BEZ) 561.00p -2.09% Rio Tinto (RIO) 5,109.00p -2.00% DCC (CDI) (DCC) 4,526.00p -1.86% Legal & General Group (LGEN) 233.30p -1.81%