UKX FTSE 100 Index

By Carla Mozee, MarketWatch

IAG under pressure after Brussels attack changes plans

U.K. stocks dropped Friday, driving toward a weekly loss, with shares of British Airways's parent under pressure and investors still assessing the impact of central bank inaction.

The FTSE 100 fell 0.8% to 6,271.45, with no sectors trading higher. The index on Thursday ended with a minor gain after being rattled by an unexpected decision by the Bank of Japan not to launch new stimulus.

The FTSE 100 was looking at a weekly decline of 0.5%, but remained on track for a 1.7% rise for April.

"It's as good as certain that the FTSE 100 will post its third successive monthly gain tonight, but if there's to be any hope of sustaining this trend, then the markets will be looking for central bankers to maintain that accommodative stance," said Trustnet Direct market analyst Tony Cross.

Among decliners Friday, International Consolidated Airlines Group SA (IAG.LN) lost 3.8% after the parent of British Airways cut its growth plans (http://www.marketwatch.com/story/iag-cuts-growth-plans-after-brussels-attacks-2016-04-29) in the wake of the Brussels terror attacks in March.

Royal Bank of Scotland's (RBS.LN) first-quarter net loss nearly doubled to GBP968 million ($1.41 million) (http://www.marketwatch.com/story/rbs-loss-nearly-doubles-on-12-billion-payment-2016-04-29) on restructuring charges and a one-off GBP1.2 billion payment to the U.K. government. Shares were down 2.1%.

Also among the few advancers, shares of telecoms giant BT Group PLC (BT.A.LN) gained 1.5%.

Mining shares were mixed as most dollar-denominated metals prices found support from a fall in the dollar . Randgold Resources PLC (RRS.LN) was up 0.9% as gold prices pushed up nearly 1%. Platinum producer Anglo American PLC (AAL.LN) rose 1%, and copper miner Fresnillo PLC (FRES.LN) gained 0.8%.

(END) Dow Jones Newswires

April 29, 2016 05:02 ET (09:02 GMT)

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