The London market ended a bruising week edging higher despite warnings over global economic uncertainty from Holiday Inn owner InterContinental Hotels Group (IHG) and disappointing US jobs data.
The FTSE 100 Index lifted 8.5 points to 6,125.7, despite April seeing the lowest number of new jobs created in the US economy in seven months.
IHG said overall room revenue growth in its first quarter stood at 1.5%, although it was dragged back by weak oil markets, the earlier timing of Easter and political uncertainty in some Middle East markets.
IHG shares fell 14p to £26.82.
The biggest faller in the top flight was satellite firm Inmarsat, which fell almost 6% to £8.12, after a broker downgrade.
The move comes a day after the technology firm cut its full-year targets to between £814million and £866million due to slowing marine and energy markets. Its previous guidance had been between £866million and £900million.
FTSE 250 insurer Hastings saw its shares lift 0.8p to £1.76 after revealing its revenues rose 22% to £132.7million in the first quarter as the firm increased its market share.
The number of customers on its books grew 17% to 2.1 million and Hastings’ share of the private car insurance market also increased to 6% from 5.3%.
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