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FTSE 100 drops as miners drag; British Airways owner slides
Published at 30/07/2021 at 08:26

(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window)

* FTSE 100 down 1.0%, FTSE 250 off 0.7%

July 30 (Reuters) - London's FTSE 100 fell on Friday to be on track for a monthly loss after five straight months of gains, as weakness in mining stocks weighed, while British Airways-owner IAG dropped after saying it was cautious on recovery prospects.

IAG slid 3.6% after it declined to give a profit forecast for the year due to COVID-19, but said its summer capacity would rise to 45% from 22% in the previous quarter.

The blue-chip FTSE 100 lost 1.0%, with travel stocks

leading the losses, while miners Rio Tinto

, Anglo American , and Glencore were the top drags.

Glencore fell 2.7% after it reported lower production data for nickel, lead and coal in the first-half, but raised expectations for its trading division.

The mid-cap index fell 0.7%

Among earnings, global education group Pearson slipped 1.3% even after it reported a better-than-expected rebound in first-half profit and a 17% jump in underlying sales, helping it raise its dividend.

(Reporting by Shashank Nayar in Bengaluru; editing by Uttaresh.V)

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

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