London’s FTSE 100 was down 0.7% at 7,087.76 in afternoon trade on Monday.
Luxury fashion brand Burberry tumbled on news chief executive officer Marco Gobbetti was planning to step down at the end of the year to take up the role of CEO at Italy’s Salvatore Ferragamo.
Elsewhere, travel and leisure stocks were under the cosh as German Chancellor Angela Merkel attempts to secure an EU-wide quarantine policy for British tourists. British Airways and Iberia owner IAG, engine maker Rolls-Royce and Premier Inn owner Whitbread all fell.
Susannah Streeter, senior investment and markets analyst at Hargreaves Lansdown, said: “EU leaders are preparing to meet this week and Germany’s Angela Merkel is hoping to gain approval for a consensus on quarantine to stop the spread of the delta variant. So, it’s looking increasingly likely this summer will be a wash out for the industry after all.”
AstraZeneca was a high riser after it said that ‘Forxiga’, or dapagliflozin, has been recommended for approval in the European Union for the treatment of chronic kidney disease in adults with and without type-2 diabetes.
FTSE 100 – Risers
Informa (INF) 513.00p 1.87%
Phoenix Group Holdings (PHNX) 682.00p 1.43%
B&M European Value Retail S.A. (DI) (BME) 568.00p 1.36%
British American Tobacco (BATS) 2,818.00p 1.13%
Avast (AVST) 498.10p 1.08%
AstraZeneca (AZN) 8,585.00p 1.01%
Evraz (EVR) 605.20p 0.83%
GlaxoSmithKline (GSK) 1,422.80p 0.68%
Melrose Industries (MRO) 156.95p 0.61%
Scottish Mortgage Inv Trust (SMT) 1,306.50p 0.54%
FTSE 100 – Fallers
Burberry Group (BRBY) 2,078.00p -7.64%
International Consolidated Airlines Group SA (CDI) (IAG) 178.72p -4.67%
Rolls-Royce Holdings (RR.) 103.80p -2.54%
InterContinental Hotels Group (IHG) 4,874.00p -2.13%
Standard Chartered (STAN) 460.40p -1.88%
Weir Group (WEIR) 1,887.50p -1.69%
Flutter Entertainment (CDI) (FLTR) 13,525.00p -1.67%
Whitbread (WTB) 3,148.00p -1.50%
Royal Dutch Shell ‘A’ (RDSA) 1,472.80p -1.45%
Royal Dutch Shell ‘B’ (RDSB) 1,429.20p -1.43%
