FTSE 250 movers: Travel sector takes a hit; Rank rallies
London’s FTSE 250 was down 1.1% at 17,735.50 in afternoon trade on Friday.
Budget airline easyJet, tour company TUI and retailer WHSmith were all under pressure as travel-related stocks fell after the UK government added more countries to its 14-day quarantine list, including France, the Netherlands, Malta and Monaco.
Russ Mould, investment director at AJ Bell, said: "This decision will feel particularly painful as it comes at the height of the UK holiday season and the question now becomes just how long the likes of easyJet, Ryanair and British Airways-owner International Consolidated Airlines can continue under these conditions.
"It appears summer 2020 will be something of a write off, the industry cannot afford for the same to be true in 12 months.
"And yet until there is a vaccine, the recovery from the coronavirus is likely to be patchy with the risk of travel restrictions between countries when there are localised flare ups."
Irish convenience food group Greencore traded lower after it emerged on Thursday that nearly 300 employees at a factory that makes sandwiches for Marks & Spencer tested positive for Covid-19.
On the upside, gambling company Rank was sitting pretty at the top of the index, with casinos due to reopen on Saturday as restrictions in England are eased further.
FTSE 250 - Risers
Rank Group (RNK) 139.40p 2.50%
Spirent Communications (SPT) 295.00p 1.55%
National Express Group (NEX) 149.60p 1.42%
Pershing Square Holdings Ltd NPV (PSH) 1,906.00p 1.38%
XP Power Ltd. (DI) (XPP) 4,590.00p 1.32%
Herald Investment Trust (HRI) 1,726.00p 1.29%
Avon Rubber (AVON) 3,615.00p 1.26%
HGCapital Trust (HGT) 249.00p 1.22%
IWG (IWG) 275.60p 1.17%
Go-Ahead Group (GOG) 656.50p 1.00%
FTSE 250 - Fallers
easyJet (EZJ) 565.80p -7.37%
TUI AG Reg Shs (DI) (TUI) 319.80p -7.22%
Greencore Group (GNC) 120.70p -6.29%
Petrofac Ltd. (PFC) 176.25p -6.25%
Just Group (JUST) 51.60p -6.18%
Mitchells & Butlers (MAB) 165.20p -5.17%
Balfour Beatty (BBY) 233.40p -4.73%
WH Smith (SMWH) 961.00p -4.57%
Coats Group (COA) 55.30p -4.49%
Aston Martin Lagonda Global Holdings (AML) 67.45p -4.39%