U.K. Stocks Fall Most in a Month as RBS, IAG Drop on Earningsby
Britain’s equities fell for the first time in four days amid earnings disappointments.
Royal Bank of Scotland Group Plc tumbled 6.1 percent as it posted a deeper loss. British Airways parent IAG SA retreated 4.7 percent after saying demand for flights has been hurt by the Brussels terror attacks, weaker bookings in oil-based economies and the possibility of the U.K. exiting the European Union. Restaurant Group Plc plunged 27 percent, the most since 2008, after the owner of Frankie & Benny’s eateries forecast another hit to profits amid a further deterioration in sales.
The FTSE 100 Index dropped 1.3 percent at the close of trading in London, paring its April advance to 1.1 percent. The gauge has risen for a third straight month for the first time since 2013. The broader FTSE All-Share Index and Ireland’s ISEQ Index also fell.