StockMarketWire.com - The FTSE 100 fell after opening higher Friday weighed by the losses in BA owner IAG following first-half results.

The FTSE 100 had opened higher at 7,078.42, but dropped to 7,038.09 at 09:30.

Losses of 1pc reflect poor performance of BA owner IAG, as the airline group reported passenger capacity was at 21.9% of 2019 levels, and continues to be adversely affected by Covid-19. IAG fell 3% to 176.3 pence.

Paragon Banking Group reveals it generated £485.4 million in its mortgages division during its financial year, 1 October 2020 to 30 June 2021. Shares gained 1.6% to 557 pence.

Engineering firm IMI upgraded its outlook on the annual performance after reporting 'strong' results in the first half of the year. IMI fell 0.1% to £17.49.

In its half year results to 30 June 2021 Rightmove, the company that runs rightmove.co.uk, the UK’s largest online real estate portal, reports revenues were up at £149.9 million, compared to £94.8 million for the same period in 2020, marking a 58% spike. Rightmove rose 0.6% to 684.2 pence.

Cineworld said it had secured $200 million of incremental loans maturing in May 2024 from a group of its existing lenders, as cinema group looked to take advantage of pent-up demand. Cineworld fell 1.1% to 66.1 pence.

Pearson, the British multinational publishing and education company headquartered in London, has revealed a 17% jump in underlying revenue in the six months to 30 June 2021, as the figure soared to £1.6 billion. Defence company Babcock unveiled a turnaround plan to improve performance after reporting wider annual losses amid a £2 billion impairment. Babcock fell 12% to 266.6 pence. NatWest Group has reported operating profits before tax of £2.5 billion, compared to an operating loss before tax of £770 million during the same period last year, in its half year results for 2020. NatWest Group rose 0.3% 205.6 pence. Fund management firm Jupiter Fund Management reported record asset management in the first half of the year thanks to a boost from the acquisition of the Merian business last year. Jupiter fell 7% to 269.20 pence. Assurance and product testing group Intertek reported a jump in first-half profit following strong performance in May and June. Intertek fell 7% to £5.2. Medical products and technologies company ConvaTec said second-half performance would be back-end weighted amid tougher comparison and the ongoing Covid-19 impact after reporting a decline in first half profit. ConvaTec fell 5% 245.70 pence. Components supplier Essentra reported a sharp rise in profit following strong performance in its components and filters segments. For the half year ended 30 June, pre-tax profit jumped to £23.1 million from £7.9 million year-on-year as revenue increased 6% to £475 million. Essentra rose 0.5% to 285.50.

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