FTSE opens lower as markets turn cautious on Trump; IAG soars while Vistry slumps – Market Report [Video]

London’s FTSE 100 opened lower as investors turned more cautious about the impact of Donald Trump’s election as US president.

The Footsie was around nine points lower at 8,128 in early trades.

British Airways owner IAG flew higher as it unveiled a €350 million (£291 million) share buyback. Operating profit rose 15% to €2 billion in the three months to September on the back of an 8% increase in revenue.

Elsewhere, Rightmove said house sale transactions are picking up but new homes remain a stress point. The online property portal also lowered its forecast for the number of estate agent members it expects this year.

Scottish Mortgage Trust underperformed its benchmark by around 50% since March even with its stack of US tech holdings. The investment trust added it had trimmed its stake in computer chip star Nvidia recently.

Finally, housebuilder Vistry slumped again after it warned its cost overrun …