FTSE 100 movers: Travel stocks retreat; United Utilities hit by downgrade
London’s FTSE 100 was up 0.5% at 7,105.16 in afternoon trade on Tuesday.
Travel-related stocks were under the cosh amid worries about restrictions due to the rise in the Covid delta variant. British Airways and Iberia owner IAG, engine maker Rolls-Royce and InterContinental Hotels were all weaker.
Richard Hunter, head of markets at Interactive Investor, said: "The Delta variant remains a concern generally, and the UK government’s reticence to open up the travelling floodgates has been mirrored by a reluctance from some countries to welcome UK visitors.
"As such, and with the Longest Day heralding the onset of summer, it is increasingly difficult to foresee anything like the increase in holiday makers which the industry had been pining for over the season."
Elsewhere, United Utilities was knocked lower by a downgrade to ‘underweight’ at Morgan Stanley.
FTSE 100 - Risers
Just Eat Takeaway.Com N.V. (CDI) (JET) 6,850.00p 3.51%
Evraz (EVR) 617.00p 2.94%
Kingfisher (KGF) 369.70p 2.13%
Ocado Group (OCDO) 2,058.00p 1.93%
Johnson Matthey (JMAT) 3,077.00p 1.85%
Intermediate Capital Group (ICP) 2,192.00p 1.76%
B&M European Value Retail S.A. (DI) (BME) 574.80p 1.70%
Prudential (PRU) 1,439.00p 1.70%
Glencore (GLEN) 314.40p 1.57%
Mondi (MNDI) 1,911.50p 1.54%
FTSE 100 - Fallers
International Consolidated Airlines Group SA (CDI) (IAG) 172.20p -2.38%
BT Group (BT.A) 195.40p -2.23%
Polymetal International (POLY) 1,581.00p -2.11%
Rolls-Royce Holdings (RR.) 98.76p -1.73%
Fresnillo (FRES) 789.40p -1.45%
United Utilities Group (UU.) 985.20p -1.24%
Royal Mail (RMG) 571.40p -1.21%
JD Sports Fashion (JD.) 921.00p -0.78%
Compass Group (CPG) 1,497.50p -0.76%
InterContinental Hotels Group (IHG) 4,794.00p -0.72%