FTSE 100 movers: Burberry gets a boost; travel stocks retreat

London's FTSE 100 was down 0.2% at 7,310.51 in afternoon trade on Tuesday, with investors still cautious amid tensions in the Middle East.

Travel company TUI and cruise operator Carnival were both on the back foot, dented by this week's surge in oil prices.

Joshua Mahony, senior market analyst at IG: "There is a negative side to higher oil prices, with travel operators TUI and Carnival both losing ground as higher costs eat away at their margins.

"The longevity of this oil rally is likely to come down to the geopolitical aspect as much as supply, with the sizeable knockout in output likely to be made up through backup inventories from both the US and Saudi Arabia."

Steelmaker Evraz was weaker amid lower iron ore prices, while Morrisons was in the red as the latest data from research firm Kantar showed that sales at the supermarket retailer fell 2% in the 12 weeks to 8 September, while market share slipped to 9.9% from 10.2%.

Going the other way, luxury fashion brand Burberry gained ground as Exane BNP Paribas lifted its price target on the stock to 2,050p from 1,700p in a note on the luxury goods sector. It said the coming months will be crucial in assessing whether a turnaround is materialising at the company.

FTSE 100 - Risers

Relx plc (REL) 1,877.50p 2.43%
Rentokil Initial (RTO) 441.50p 2.27%
Aveva Group (AVV) 3,650.00p 2.07%
AstraZeneca (AZN) 6,902.00p 1.60%
Experian (EXPN) 2,479.00p 1.52%
Compass Group (CPG) 1,984.50p 1.48%
Halma (HLMA) 1,972.50p 1.34%
Sage Group (SGE) 669.40p 1.33%
Royal Dutch Shell 'B' (RDSB) 2,353.39p 1.33%
Burberry Group (BRBY) 2,165.00p 1.26%

FTSE 100 - Fallers

TUI AG Reg Shs (DI) (TUI) 845.20p -4.22%
Evraz (EVR) 496.80p -4.09%
Smurfit Kappa Group (SKG) 2,512.00p -3.61%
Standard Life Aberdeen (SLA) 264.20p -3.19%
Persimmon (PSN) 2,035.00p -3.14%
Morrison (Wm) Supermarkets (MRW) 201.90p -3.12%
Legal & General Group (LGEN) 245.70p -2.81%
Carnival (CCL) 3,669.00p -2.81%
Smith (DS) (SMDS) 357.50p -2.77%
Ashtead Group (AHT) 2,228.00p -2.71%