Despite the UK stock market slipping back after last week’s gains, International Airlines Group is bucking the downward trend.
The British Airways owner is up 4p at 566.5p after Goldman Sachs restarted coverage following the company’s acquisition of Aer Lingus with a buy recommendation.
Goldman said IAG’s current valuation failed to reflect its higher return and growth prospects, and it believed the company should benefit from addressing cost inefficiencies as well as stable economic growth in its main markets.
Elswhere SABMiller is up 32.5p at £37.01 awaiting bid developments, with Anheuser-Busch InBev facing a Wednesday deadline to lodge a formal offer for its rival. A number of SAB investors have labelled its proposed $100bn bid as too low.
Overall the FTSE 100 is currently down 38.01 points at 6378.15.
