London’s FTSE 100 was flat at 7,120.64 in afternoon trade on Monday.
Admiral rallied after the insurer said it expected a higher-than-expected first-half profit due to an “unusually positive” development in the cost of UK motor injury claims. The firm guided for pre-tax profit of £450m to £500m and a dividend of 110p to 125p a share.
On the downside, travel-related stocks were under the cosh amid worries about Covid-19, with engine maker Rolls-Royce, British Airways and Iberia owner IAG and Premier Inn owner Whitbread all weaker.
Russ Mould, investment director at AJ Bell, said: “The UK is now only a week away from the so-called ‘Freedom Day’ where most of the remaining Covid restrictions will be dropped.
“However, there are growing fears that removal of these restrictions could lead to a resurgence in infections and put the country in a dangerous situation.”
FTSE 100 – Risers
Admiral Group (ADM) 3,247.00p 4.04%
Ocado Group (OCDO) 1,945.00p 1.89%
B&M European Value Retail S.A. (DI) (BME) 555.20p 1.87%
Aveva Group (AVV) 3,991.00p 1.71%
Auto Trader Group (AUTO) 651.20p 1.65%
SEGRO (SGRO) 1,183.00p 1.59%
Experian (EXPN) 2,981.00p 1.46%
Rightmove (RMV) 656.80p 1.33%
Intermediate Capital Group (ICP) 2,174.00p 1.30%
Ashtead Group (AHT) 5,600.00p 1.23%
FTSE 100 – Fallers
Rolls-Royce Holdings (RR.) 97.10p -3.86%
International Consolidated Airlines Group SA (CDI) (IAG) 178.34p -3.52%
Whitbread (WTB) 3,051.00p -2.71%
Associated British Foods (ABF) 2,129.00p -2.56%
Taylor Wimpey (TW.) 161.05p -2.16%
Antofagasta (ANTO) 1,412.00p -2.11%
Compass Group (CPG) 1,496.00p -1.90%
Informa (INF) 498.30p -1.87%
Smith (DS) (SMDS) 419.40p -1.83%
Evraz (EVR) 604.20p -1.79%
