IAG and Restaurant Group weigh on European equities

viernes 29 de abril de 2016 04:37 GYT

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* FTSEurofirst 300 index falls 1.1 percent

* IAG shares down on weaker demand outlook

* Restaurant Group slumps after profit warning

By Atul Prakash

LONDON, April 29 (Reuters) - European equities fell sharply on Friday and headed for their biggest weekly decline in one month, with the travel and leisure stocks leading the market lower after updates from British Airways-owner IAG and Restaurant Group.

The STOXX Europe 600 Travel and Leisure index fell 2 percent, the top sectoral decliner, putting pressure on the broader market.

International Airlines Group fell 4 percent, the top decliner in the FTSEurofirst 300 index, after saying it would moderate its capacity expansion in the short term in response to weaker overall demand, despite reporting a forecast-beating rise in first-quarter profit.

Britain's Restaurant Group, which operates chains such as Chiquito and Frankie & Benny's, slumped 23 percent after warning on full-year profit outlook as it does not expect any improvement in trading conditions in the short term.   Continuación...