FTSE 100 movers: Travel shares hit by quarantine changes; Smurfit rises
By Michele Maatouk
Date: Friday 14 Aug 2020
(Sharecast News) - London's FTSE 100 was down 1.9% at 6,071.20 in afternoon trade on Friday.
Travel-related stocks were under the cosh, with British Airways owner IAG the worst performer, while Premier Inn owner Whitbread also fell after the UK government added more countries to its 14-day quarantine list, including France, the Netherlands, Malta and Monaco.
GKN owner Melrose and engine maker Rolls-Royce were also hit by the news.
Neil Wilson, chief market analyst at Markets.com, said: "The move will force a large swathe of cancellations right at the peak of the summer holiday season for one of the largest markets for UK tourists. Half a million Brits are thought to be in France right now.
"Apart from the immediate damage this will do at the height of the school holidays and peak summer season, the quarantine decision also underlines the inherent risk you take in booking a holiday abroad right now, which will do nothing for consumer confidence."
Bucking the trend, paper and packaging group Smurfit Kappa rose to the top of the index.
FTSE 100 - Risers
Smurfit Kappa Group (SKG) 2,740.00p 1.48%
Persimmon (PSN) 2,520.00p 0.24%
Hikma Pharmaceuticals (HIK) 2,330.00p 0.09%
Land Securities Group (LAND) 567.80p 0.00%
Taylor Wimpey (TW.) 119.50p 0.00%
Berkeley Group Holdings (The) (BKG) 4,581.00p -0.04%
Barclays (BARC) 108.02p -0.06%
Admiral Group (ADM) 2,686.00p -0.11%
BAE Systems (BA.) 533.00p -0.22%
BHP Group (BHP) 1,817.60p -0.41%
FTSE 100 - Fallers
International Consolidated Airlines Group SA (CDI) (IAG) 191.70p -6.21%
Melrose Industries (MRO) 101.20p -4.84%
Rolls-Royce Holdings (RR.) 254.80p -4.82%
GVC Holdings (GVC) 766.20p -4.22%
Informa (INF) 405.20p -4.03%
Aveva Group (AVV) 4,395.00p -3.51%
Whitbread (WTB) 2,440.00p -3.44%
Glencore (GLEN) 170.34p -3.29%
Auto Trader Group (AUTO) 555.00p -3.24%
Royal Dutch Shell 'B' (RDSB) 1,123.60p -3.17%
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