Its been a busy week for consumer stocks with Marks & Spencers results the most high profile announcement, and once again the market has fixated on like-for-like sales, almost to the exclusion of all else.

Shares in life assurance company Friends Provident were adjusted downward on Friday as the demerger of the companys 52% stake in F & C Asset Management went through.

British Airways carried 3.8% fewer passengers in June but said it will cut spending by 20% to deal with the challenging market conditions.