FTSE 100 movers: TUI tanks again; Carnival bucks trend
London’s FTSE 100 was down 4.4% at 5,129.74 in afternoon trade on Monday, off earlier lows but still firmly in the red amid growing concerns about the impact of Covid-19.
Fund manager M&G was the worst performer on the index, closely followed by airlines IAG and easyJet.
British Airways and Iberia parent IAG said earlier that chief executive officer Willie Walsh will temporarily postpone his retirement as the company rides out the turbulence from the coronavirus epidemic.
Meanwhile, budget airline easyJet said government backing would be needed to save the European airline industry from the impact of the coronavirus as it warned it may have to ground a majority of its fleet. The budget carrier said it had made further significant cancellations as European countries moved into lockdown, adding that these would "continue on a rolling basis for the foreseeable future".
TUI was also under the cosh, having announced late on Sunday that it was applying for state aid guarantees as it suspended the vast majority of its travel operations and withdrew 2020 guidance due to the coronavirus.
Going the other way, Russian steelmaker Evraz gained, while cruiser operator Carnival was also up even as it announced the suspension of new sailings by four more of its North American cruise line brands for one month in response to the pandemic.
FTSE 100 - Risers
Evraz (EVR) 245.10p 7.12%
Carnival (CCL) 1,191.00p 2.58%
Sainsbury (J) (SBRY) 183.30p 2.35%
Whitbread (WTB) 2,596.00p 0.66%
Intertek Group (ITRK) 4,558.00p 0.49%
Tesco (TSCO) 221.00p 0.41%
Rio Tinto (RIO) 3,282.50p 0.26%
Spirax-Sarco Engineering (SPX) 8,205.00p -0.24%
Sage Group (SGE) 580.40p -0.27%
Reckitt Benckiser Group (RB.) 5,355.00p -0.35%
FTSE 100 - Fallers
M&G (MNG) 107.60p -26.40%
International Consolidated Airlines Group SA (CDI) (IAG) 258.70p -26.15%
easyJet (EZJ) 625.20p -20.54%
Taylor Wimpey (TW.) 120.70p -18.75%
TUI AG Reg Shs (DI) (TUI) 292.60p -18.72%
JD Sports Fashion (JD.) 419.80p -18.10%
Prudential (PRU) 723.00p -16.59%
Coca-Cola HBC AG (CDI) (CCH) 1,575.50p -14.91%
ITV (ITV) 72.88p -13.73%
Barratt Developments (BDEV) 455.30p -13.54%