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UK stocks fell on Friday, with IAG being one of the major contributors to the decline, and they were on track to conclude the week with losses amidst a series of earnings reports and a decision on interest rates from the Bank of England. The FTSE 100 index, made up of blue-chip stocks, experienced a drop. Despite facing weekly losses, the FTSE 100 remains one of the top-performing indexes in Europe. This week, global equities experienced volatility due to worries about the valuation of technology stocks and reduced expectations for a Federal Reserve interest rate cut in December, impacting overall sentiment. In the UK, the Times reported that Finance Minister Rachel Reeves has informed the nation's budget oversight body that an increase in personal taxes is among the significant measures she plans to unveil in her budget on November 26. Gilt yields in the UK rose modestly, and the pound was on track for its third consecutive week of decline. Earlier this week, the Bank of England maintained its main lending rate at 4%. Major brokerage firms such as Morgan Stanley and Citigroup anticipate that the central bank will implement a rate cut during its meeting in December.

Shares of Rightmove have dropped 22.5% to 508.4p, marking their lowest point since November 2023. The stock is the biggest loser in the FTSE 100 index. The company anticipates a 3% to 5% growth in underlying operating profit for 2026, impacted by investments in the AI sector. They plan to invest £18 million (approximately $24.16 million) in 2026. RMV also forecasts a revenue growth of 8% to 10% for the same year. The company reaffirms its 2025 outlook originally shared in its interim results in July. Year-to-date, the stock has decreased by approximately 24.24%.

Shares of IAG, the parent company of British Airways, dropped 6.76% to 386.1 p, making it one of the biggest losers in London's FTSE 100. IAG reported a third-quarter operating profit before exceptional items of 2,053 million euros ($2.39 billion), slightly higher than the 2,103 million euros recorded last year. The company stated that its quarterly revenue remained unchanged at 9.33 billion euros and noted some weakness in the North Atlantic market due to a decline in the U.S. economy related to leisure travel. As of Thursday's close, the stock had increased by 37.16%.

TECHNICAL & TRADE VIEW - FTSE100

• Daily VWAP Bearish 9730
• Weekly VWAP Bullish 9555
• Above 9730 Target 9868
• Below 9730 Target 9602

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