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FTSE 100 set for monthly declines, pressured by pandemic woes
Published at 31/07/2020 at 08:28

(For a live blog on European stocks, type LIVE/ in an Eikon news window)

* FTSE 100, FTSE 250 flat after mixed earnings

July 31 (Reuters) - London's FTSE 100 was set for its first monthly decline since the coronavirus-driven crash in March as a historic slump in the U.S. economy fanned fears of a slower global recovery, while British Airways-owner IAG slipped on plans to raise equity.

IAG shed 5.3% as it said it would raise about 2.75 billion euros ($3.27 billion) in a capital increase backed by its biggest shareholder, Qatar Airways, to strengthen its finances after the pandemic wiped out global travel.

NatWest Group tumbled 0.9% after posting a first-half loss due to swelling loan loss provisions.

The FTSE 100 , however, was flat on Friday, helped by a 1.1% gain for British American Tobacco as it reported a better-than-expected first-half profit on strong demand from the United States, its biggest market.

The mid-cap FTSE 250 was also flat, with losses for industrial, financial and consumer discretionary stocks countered by gains in materials, real estate and tech-related stocks.

(Reporting by Sagarika Jaisinghani in Bengaluru; Editing by Bernard Orr)

((Sagarika.Jaisinghani@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 6182 2256;))

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