Sector movers: Airlines and housebuilders drop
Airlines and housebuilders fell on Monday, while electronic and electrical equipment was one of the sectors on the up.
Budget airline easyJet led the Footsie lower on Monday after rival Ryanair issued a profit warning and descended to its own two-year low.
The Dublin-based carrier blamed cabin crew and pilot strikes, lower traffic, weaker fares and higher compensation payments as it cut full year profit guidance 12% to €1.1-1.2bn from €1.25-1.35bn. Fares fell around 3% in the second quarter of its financial year compared to an expected 1% decline and an anticipated recovery in the third quarter has not materialised. Directors decided to trim winter 2018 capacity by 1% in response to the lower fares, higher oil price and higher compensation costs, which it said was in line with a number of other EU airlines.
IAG, the owner of Aer Lingus and Vueling among others, was among the fallers but not as badly affected.
Housebuilders, led by Berkeley Group and followed by Persimmon and Taylor Wimpey, subsided after Theresa May unveiled a new stamp duty that foreign buyers will need to pay when making housing purchases. The Prime Minister said it was the government's intention to charge foreign people and businesses between 1% and 3% of additional tax or stamp duty on house purchases to stop them driving up house prices.
Analysts at UBS said was "an unhelpful development for the London housing market" and broker Shore Capital agreed it was an "ill-judged decision" seemingly built on the idea that overseas investors buy homes and leave them empty.
ShoreCap pointed to "very strong anecdotal evidence that investors rent out their investments, thereby contributing positively to the UK housing market" and said it was not assured that there will be a negative impact on demand.
Electronics and electricals were higher, led by smoke alarms maker Halma, and with Renishaw and Spectris also in the green.
Top performing sectors so far today
Leisure Goods 9,702.34 +2.77%
Electronic & Electrical Equipment 6,998.12 +2.62%
Technology Hardware & Equipment 1,091.59 +2.52%
Industrial Transportation 3,291.16 +1.66%
Health Care Equipment & Services 7,760.08 +1.61%
Bottom performing sectors so far today
Life Insurance 8,250.13 -0.95%
Tobacco 40,037.11 -0.89%
Food & Drug Retailers 3,977.54 -0.82%
Electricity 6,960.11 -0.72%
Mobile Telecommunications 3,653.46 -0.67%
Market Movers
FTSE 100 (UKX) 7,497.45 -0.17%
FTSE 250 (MCX) 20,402.94 0.47%
techMARK (TASX) 3,508.06 0.14%
FTSE 100 - Risers
Rentokil Initial (RTO) 329.10p 3.36%
Halma (HLMA) 1,493.00p 3.32%
Royal Mail (RMG) 490.10p 2.72%
RSA Insurance Group (RSA) 590.20p 2.64%
GVC Holdings (GVC) 938.00p 2.12%
DCC (DCC) 7,110.00p 2.08%
NMC Health (NMC) 3,454.00p 1.77%
Burberry Group (BRBY) 2,045.00p 1.49%
Paddy Power Betfair (PPB) 6,580.00p 1.39%
WPP (WPP) 1,138.50p 1.24%
FTSE 100 - Fallers
easyJet (EZJ) 1,242.50p -5.44%
Berkeley Group Holdings (The) (BKG) 3,547.00p -3.59%
Schroders (SDR) 3,016.00p -2.55%
Persimmon (PSN) 2,309.00p -2.37%
Hargreaves Lansdown (HL.) 2,186.00p -2.19%
Taylor Wimpey (TW.) 168.45p -1.95%
International Consolidated Airlines Group SA (CDI) (IAG) 648.00p -1.85%
Tesco (TSCO) 235.70p -1.71%
Sage Group (SGE) 577.00p -1.60%
Barratt Developments (BDEV) 558.00p -1.59%
FTSE 250 - Risers
Indivior (INDV) 194.30p 5.51%
Vivo Energy (VVO) 135.86p 5.25%
Serco Group (SRP) 102.60p 4.91%
Rank Group (RNK) 176.60p 3.88%
Sanne Group (SNN) 662.00p 3.44%
IMI (IMI) 1,132.50p 3.24%
Energean Oil & Gas (ENOG) 595.00p 3.12%
Hunting (HTG) 805.00p 3.07%
On The Beach Group (OTB) 510.00p 3.03%
Clarkson (CKN) 2,775.00p 2.78%
FTSE 250 - Fallers
Just Group (JUST) 80.65p -8.77%
Wizz Air Holdings (WIZZ) 2,756.00p -4.21%
Superdry (SDRY) 1,047.00p -3.59%
Hochschild Mining (HOC) 158.20p -3.39%
Capita (CPI) 138.90p -2.80%
Equiniti Group (EQN) 259.50p -2.44%
Bovis Homes Group (BVS) 1,046.50p -2.42%
Centamin (DI) (CEY) 103.72p -2.34%
888 Holdings (888) 194.80p -2.26%
Metro Bank (MTRO) 2,910.00p -2.15%