The FTSE 100 outperformed global markets, rising 0.3% as several companies saw gains following strong annual results. The index was on track for its fourth consecutive day of gains and a weekly increase of 1.4%.
British Airways’ parent company, IAG, led the charge, surging 5.3% after reporting a 27% jump in annual operating profit, surpassing market expectations, and announcing a share buyback program.
Engineering firm IMI also climbed 5% after unveiling a 10% dividend increase from 2023 levels and launching a new share buyback initiative.
Following a strong 6% rally in January, the FTSE 100 is set to close February with a modest gain of over 1%, continuing its positive trajectory into 2025.
Meanwhile, European markets faced pressure after President Trump confirmed a 25% tariff on imports from Canada and Mexico, set to take effect on March 4, alongside an additional 10% duty on Chinese goods.
The Cac 40 in Paris and the DAX in Frankfurt both slipped 0.4%.
Investor attention will now turn to U.S. Personal Consumption Expenditure (PCE) data, which could offer key insights into future Federal Reserve monetary policy decisions.
