Home Business News FTSE 100 tumbles as travel stocks take a hit

FTSE 100 tumbles as travel stocks take a hit

by LLB Editor
27th Jul 20 9:17 am

The FTSE 100 index in London has opened 12 points lower at 6,112, a 0.2% fall. Predictably, airline stocks are deep in the red, after the UK government warned against all but essential travel to Spain at the weekend, and imposed a two-week quarantine on travellers arriving from the country.

British Airways owner IAG is the biggest faller on the UK’s blue-chip index, down 8.1%. Ryanair shares have dropped 6.4% after the Irish budget carrier posted a quarterly loss and said it was too early to say whether it would turn a profit this year. It struck a defiant stance, saying it would not cut flights to Spain.

Other European stock indices are also mostly lower.

  • Germany’s Dax up 0.1%
  • France’s CAC down 0.2%
  • Spain’s Ibex down 0.8%

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