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London stocks slip as Spain quarantine hits airlines

Published 07/27/2020, 03:18 PM
Updated 07/27/2020, 03:20 PM
© Reuters.

(For a live blog on European stocks, type LIVE/ in an Eikon
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* FTSE 100 down 0.1%, FTSE 250 off 0.06%

July 27 (Reuters) - UK shares dipped on Monday as a two-week
quarantine on all travellers from Spain weighed on airline
stocks, with simmering U.S.-China tensions and surging global
COVID-19 cases also sparking a flight from risk assets.
The blue-chip FTSE 100 .FTSE was down 0.1%, extending
declines after clocking its worst day in two weeks on Friday.
The mid-cap FTSE 250 .FTSE was marginally lower, with
declines in industrial and consumer discretionary stocks offset
by gains for materials and real estate firms.
London-listed shares of Europe's biggest holiday company,
TUI AG TUIT.L , tumbled 8.4% after the company said it had
decided to cancel all holidays to mainland Spain through Aug. 9
following the UK's decision to quarantine travellers.
EasyJet EZJ.L and British Airways-owner IAG ICAG.L fell
9.0% and 7.5%, respectively, even as they told customers on
Saturday that they did not plan to cancel flights over the
coming days. The wider travel and leisure sector .FTNMX5750 shed 1.3%
to a two-week low.
Antofagasta ANTO.L rose 2.4% to the top of the FTSE 100 as
the union of workers at its Zaldivar copper mine in northern
Chile told Reuters that it had reached a contract deal with the
Chilean-based miner, averting the risk of a walk-off.

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