FTSE 100 movers: ITV slumps; Just Eat bucks trend
London’s FTSE 100 was down 2.6% at 6,822.84 in afternoon trade on Monday as sentiment was dented by Covid worries.
Broadcaster ITV was the worst performer on the index. Susannah Streeter, senior investment and markets analyst at Hargreaves Lansdown, said concerns were growing that a slowdown, brought about by higher Covid infection rates, could dent marketing budgets once more at ITV.
Concerns about a rise in Covid cases also dented travel-related stocks, with British Airways and Iberia owner IAG, engine maker Rolls-Royce and GKN owner Melrose all weaker. News that fully-vaccinated arrivals from France will still have to quarantine added extra pressure on the sector.
Streeter said: "The confusion surrounding quarantine and testing rules for international travel is also leading to fresh jitters about recovery for the aviation and tourism industries.
"Optimism which had been on the horizon just a few weeks ago has again been obscured by dark clouds, especially with the snap decision to enforce a 10 day quarantine for arrivals from France. With the rules for teenagers also unclear, many families, once hopeful for a holiday, are now putting away their suitcases, settling for a summer of staycations and day trips."
On the upside, Just Eat Takeaway was one of only two stocks in the black, perhaps amid expectations that a spike in cases might deter people from eating out.
FTSE 100 - Risers
Just Eat Takeaway.Com N.V. (CDI) (JET) 5,924.00p 1.37%
London Stock Exchange Group (LSEG) 7,620.00p 0.26%
Admiral Group (ADM) 3,286.00p -0.03%
Hikma Pharmaceuticals (HIK) 2,627.00p -0.11%
Unilever (ULVR) 4,352.00p -0.14%
Severn Trent (SVT) 2,708.00p -0.22%
Reckitt Benckiser Group (RKT) 6,465.00p -0.31%
Rentokil Initial (RTO) 516.60p -0.39%
Pearson (PSON) 808.60p -0.42%
United Utilities Group (UU.) 1,039.50p -0.48%
FTSE 100 - Fallers
ITV (ITV) 113.85p -6.14%
International Consolidated Airlines Group SA (CDI) (IAG) 158.08p -5.78%
Rolls-Royce Holdings (RR.) 88.02p -5.42%
Glencore (GLEN) 293.25p -5.10%
St James's Place (STJ) 1,463.50p -5.09%
Johnson Matthey (JMAT) 2,966.00p -4.97%
Anglo American (AAL) 2,750.50p -4.79%
Associated British Foods (ABF) 1,953.00p -4.69%
Melrose Industries (MRO) 142.55p -4.36%
Intermediate Capital Group (ICP) 1,992.50p -4.30%