FTSE 100 movers: Travel stocks hit; Bunzl lifted by upgrade
London’s FTSE 100 was down 0.2% at 6,714.25 in afternoon trade on Tuesday.
BP and Shell gushed lower as oil prices slid.
Travel-related stocks were also under the cosh as the foreign travel ban was extended until June, with anyone attempting to leave England facing a £5,000 fine as of next week. Engine maker Rolls-Royce and British Airways and Iberia owner IAG both fell.
Rolls-Royce was also hit by news that Norway has blocked the sale of its Bergen marine engine business to Russia’s TMH Group on national security grounds.
On the upside, Bunzl was the top performer after RBC Capital Markets lifted its stance on the shares to ‘sector perform’ from ‘underperform’ and upped the price target to 2,270p from 2,200p, following a de-rating. The bank pointed to a "robust" set of FY results earlier this month and the stock’s 20% underperformance versus the FTSE All Share index over the past six months.
Housebuilder Barratt Developments rose after FTSE 250 peer Crest Nicholson lifted its full-year profit expectations and pointed to a resilient UK market.
FTSE 100 - Risers
Bunzl (BNZL) 2,367.00p 3.05%
SEGRO (SGRO) 928.20p 2.34%
SSE (SSE) 1,459.50p 2.31%
Ocado Group (OCDO) 2,105.00p 2.18%
Rightmove (RMV) 599.40p 2.11%
Severn Trent (SVT) 2,279.00p 2.01%
Barratt Developments (BDEV) 778.60p 1.99%
BAE Systems (BA.) 497.10p 1.80%
Imperial Brands (IMB) 1,500.50p 1.80%
Smurfit Kappa Group (CDI) (SKG) 3,512.00p 1.80%
FTSE 100 - Fallers
Rolls-Royce Holdings (RR.) 107.70p -3.75%
BP (BP.) 296.60p -3.47%
Antofagasta (ANTO) 1,663.00p -3.40%
International Consolidated Airlines Group SA (CDI) (IAG) 189.45p -3.32%
Royal Dutch Shell 'A' (RDSA) 1,440.40p -2.99%
Royal Dutch Shell 'B' (RDSB) 1,371.00p -2.94%
JD Sports Fashion (JD.) 816.00p -2.60%
Weir Group (WEIR) 1,738.50p -2.41%
Informa (INF) 575.60p -2.34%
Associated British Foods (ABF) 2,347.00p -2.05%