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Reuters
18-06-2025
- Business
- Reuters
Spain's Iberia plans to increase long-haul fleet to 70 aircraft
MADRID, June 18 (Reuters) - Iberia expects to increase its fleet of long-haul aircraft to 70 planes from 45 by the middle of the next decade, the Spanish airline said in a strategic plan released on Wednesday. Owned by International Consolidated Airlines (ICAG.L), opens new tab, Iberia plans to invest 6 billion euros ($6.90 billion) as part of the plan. Iberia CEO Marco Sansavini told reporters that 70% of the investment needed for the fleet expansion will come mainly from its own cash flow. The company will also add four short-haul jets in 2026 and 2027, he said. "All our fleet will comprise Airbus ( opens new tab airplanes, which allows us to be efficient," Sansavini said. The airline, part of a group that includes British Airways, Aer Lingus and Vueling, will continue to lead on routes between Europe and Latin America from its Madrid hub. It also plans to add direct flights to Toronto, Philadelphia and Monterrey in Mexico in response to strong sales performance in North America, Sansavini said. ($1 = 0.8694 euros)
Business Recorder
16-06-2025
- Business
- Business Recorder
FTSE 100 pulls back from record as ME tensions escalate
LONDON: London's FTSE 100 retreated on Friday after closing at a record high in the previous session as Israel's attacks on Iran ramped up geopolitical tensions, but gains in energy stocks limited declines. The blue-chip FTSE 100 closed down 0.4%, less than 1% away from an intraday record high. Israel launched strikes against Iran on Friday, targeting nuclear facilities and ballistic missile factories, to prevent Tehran from building an atomic weapon. The Islamic Republic insists it wants nuclear energy only for civilian purposes. Israel said Iran had launched around 100 drones towards Israeli territory in retaliation on Friday, but Iran denied this and there were no reports of any drones reaching Israeli targets. The development adds to caution among investors, who are already grappling with the impact of US President Donald Trump's erratic tariff policies. The heightened tensions sent prices of crude soaring about 6% and weighed heavily on travel and leisure stocks. British Airways owner ICAG fell 3.7%, EasyJet dropped 2.7%, while Wizz Air was down 5.6%. Global airlines cleared out of airspace in the Middle East, diverting flights. London-listed shares of cruise operator Carnival were down 3.4%. Gains in commodity-linked stocks capped declines in the blue-chip index, with energy shares rising 0.8%, boosted by oil giants Shell and BP.
Business Recorder
13-06-2025
- Business
- Business Recorder
FTSE 100 pulls back from record as Middle East tensions escalate
London's FTSE 100 retreated on Friday after closing at a record high in the previous session as Israel's attacks on Iran ramped up geopolitical tensions, but gains in energy stocks limited declines. The blue-chip FTSE 100 closed down 0.4%, less than 1% away from an intraday record high. Israel launched strikes against Iran on Friday, targeting nuclear facilities and ballistic missile factories, to prevent Tehran from building an atomic weapon. The Islamic Republic insists it wants nuclear energy only for civilian purposes. Israel said Iran had launched around 100 drones towards Israeli territory in retaliation on Friday, but Iran denied thisand there were no reports of any drones reaching Israeli targets. The development adds to caution among investors, who are already grappling with the impact of U.S. President Donald Trump's erratic tariff policies. The heightened tensions sent prices of crude soaring about 6% and weighed heavily on travel and leisure stocks. British Airways owner ICAG fell 3.7%, EasyJet dropped 2.7%, while Wizz Air was down 5.6%. Global airlines cleared out of airspace in the Middle East, diverting flights. London-listed shares of cruise operator Carnival were down 3.4%. Gains in commodity-linked stocks capped declines in the blue-chip index, with energy shares rising 0.8%, boosted by oil giants Shell and BP. As investors flocked to safe havens, gold prices rose 1%, helping precious metal miners rise 2.8%. The midcap FTSE 250 slid 1%, recording its steepest single-day fall in more than two months. Gas producer Energean dropped 5.1% after it said it had temporarily suspended the production and activities of its power floating production storage and offloading located off northern Israel. Markets will be looking ahead to the Bank of England's monetary policy meeting next week, where it is expected to keep interest rates on hold. A central bank survey showed the British public's expectations for inflation over the medium term remained at the highest in several years although short-term expectations fell.
Business Recorder
13-06-2025
- Business
- Business Recorder
European shares tumble as Israel-Iran conflict escalates
European shares closed lower on Friday as Israel's wide-scale strike against Iran triggered a broad market selloff, with investors rushing to safe-haven assets amid an already uncertain trade environment. The pan-European STOXX 600 index fell 0.9%, briefly hitting its lowest level in three-weeks. The index also marked its fifth consecutive declining session and longest losing streak since September 2024. Israel launched a barrage of strikes across Iran, saying it had attacked nuclear facilities and missile factories. The news sent global risk assets lower and investors moved into traditional safe havens like the dollar and gold. Though Washington said it had no part in the attack, U.S. President Donald Trump, Israel's main ally, suggested that Iran had brought the attack on itself by resisting a U.S. ultimatum in talks to restrict its nuclear programme. Most regional stock bourses finished in the red, with Germany's DAX ending 1.1% lower after data showed German inflation eased to 2.1% in May, confirming preliminary data. 'If this is over quickly, we'll see a fairly quick recovery and the markets basically are discounting the possibility that this drags out,' said Patrick Armstrong, chief investment officer at Plurimi Wealth. 'Our view is that it probably will be very short lived because Iran isn't in a position to respond meaningfully, given the power dynamics between the two countries'. Most STOXX sub-sectors clocked losses, with auto stocks leading declines, down 2.2%. Travel and leisure also dropped 2% - with airline operators ICAG, Lufthansa and Ryanair among the biggest laggards as many airlines cleared out of the airspace over Israel, Iran, Iraq and Jordan and crude oil prices surged. Energy stocks advanced 0.6% as crude oil prices jumped close to 6% on worries about a disruption in Middle East oil supplies. Shipping groups Maersk advanced 4.2% and Hapag-Lloyd gained almost 1%, respectively, as analysts flagged upside risks to freight rates amid the supply disruptions. Defence companies also jumped, with Germany's Rheinmetall up 2.7% and UK's BAE Systems adding 2.9%. A measure of European volatility also shot up to its highest level since May 26. The benchmark index STOXX 600 posted a weekly decline, as investors were unimpressed by the outcome of U.S.-China talks earlier this week, and had doubts over an EU trade deal with the U.S. before Trump's July 8 tariff deadline.
Reuters
13-06-2025
- Business
- Reuters
London's FTSE 100 pulls back from record close as Middle East tensions escalate
June 13 (Reuters) - London's FTSE 100 retreated on Friday after closing at a record high in the previous session as Israel's attacks on Iran ramped up geopolitical tensions, but gains in energy stocks limited declines. The benchmark FTSE 100 (.FTSE), opens new tab was down 0.5% as of 0905 GMT, less than 1% away from an intraday record high. It is set for a fifth consecutive week of gains. Israel launched large-scale strikes against Iran on Friday, targeting nuclear facilities and ballistic missile factories, to prevent Tehran from building an atomic weapon. Iran retaliated by launching 100 drones. The development adds to caution in the global financial markets, which have been grappling with the impact of U.S. President Donald Trump's erratic tariff policy moves. The heightened tensions in the oil-rich Middle East sent prices of crude soaring, last up 7% and weighing heavily on travel and leisure stocks (.FTNMX405010), opens new tab. British Airways owner ICAG (ICAG.L), opens new tab fell 4.3%, EasyJet dropped (EZJ.L), opens new tab 3.2%, while Wizz Air (WIZZ.L), opens new tab was down 1.7%. Global airlines cleared out of airspace in the Middle East, diverting flights. London-listed shares of cruise operator Carnival (CCL.L), opens new tab were down 4%. However, gains in commodity-linked stocks capped declines on the blue-chip index, with energy shares (.FTNMX601010), opens new tab up 1.7%, boosted by gains in giants Shell (SHEL.L), opens new tab and BP (BP.L), opens new tab. As investors flocked to safe havens amid the heightened tensions, gold prices rose to over 1%, helping precious metal miners (.FTNMX551030), opens new tab up 1.3%. Mid-caps in London (.FTMC), opens new tab slid 1.2%, on track for their steepest single-day fall in more than two months. Gas producer Energean (ENOG.L), opens new tab bottomed the FTSE 250 after it said it had temporarily suspended the production and activities of its power floating production storage and offloading (FPSO) located offshore Northern Israel. Markets will be looking ahead to the Bank of England's monetary policy meeting next week, where it is expected to keep interest rates on hold.
