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NewsBreak: IAG Shares Rise as BA Pilots Call Off Planned Strike -- Shares in International Consolidated Airlines Group rose 2.0% Wednesday after BALPA, the union representing British Airways pilots, said it would call off strike action planned for next week.

Last week's strikes "had demonstrated the anger and resolve of pilots. It was now time for a period of reflection before the dispute escalates further and irreparable damage is done to the brand," BALPA said in a statement. Next strike was set for Sept. 27. Union reserves the right to resume industrial action if BA doesn't respond satisfactorily. IAG (LON:ICAG) shares up 1.3% as of 10:30 AM ET (1430 GMT); FTSE 100 flat.

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