London’s FTSE 100 was down 0.2% at 7,097.19 in afternoon trade on Tuesday.
Sainsbury’s was the worst performer on the index, having surged on Monday following a report that US private equity firm Apollo was considering making a £7bn offer for the supermarket chain.
Banks were also in the red, with HSBC and Lloyds both lower.
Going the other way, travel-related stocks were on the rise, with Premier Inn owner Whitbread, British Airways parent IAG, and engine maker Rolls-Royce all higher.
AJ Bell financial analyst Danni Hewson said: “Concerns about the spread of the Delta variant seem to wax and wane as often as the weather and a slightly sunnier mood to match the meteorological conditions in the UK helped the travel sector eke out some modest gains early on.”
Rio Tinto gained after the miner said it had resumed operations at Richards Bay Minerals (RBM) in South Africa.
Mining operations at RBM were stopped in June due to safety concerns following the fatal shooting of a senior manager.
Rio said the resumption of operations follows a stabilisation of the security situation around the mine, supported by the national and provincial government, as well as substantive engagement with host communities and their traditional authorities.
FTSE 100 – Risers
Whitbread (WTB) 3,143.00p 3.22%
Ocado Group (OCDO) 2,014.00p 2.83%
Rio Tinto (RIO) 5,378.00p 2.36%
International Consolidated Airlines Group SA (CDI) (IAG) 164.20p 2.33%
Rolls-Royce Holdings (RR.) 116.36p 2.30%
Evraz (EVR) 571.60p 2.07%
Antofagasta (ANTO) 1,457.00p 2.03%
Anglo American (AAL) 2,963.00p 1.79%
Informa (INF) 535.00p 1.75%
Taylor Wimpey (TW.) 176.40p 1.67%
FTSE 100 – Fallers
Sainsbury (J) (SBRY) 327.50p -3.68%
Burberry Group (BRBY) 1,834.50p -2.26%
Kingfisher (KGF) 353.10p -2.19%
Smith & Nephew (SN.) 1,377.50p -2.10%
BT Group (BT.A) 164.75p -2.02%
Imperial Brands (IMB) 1,527.50p -1.99%
SEGRO (SGRO) 1,264.50p -1.98%
HSBC Holdings (HSBA) 387.75p -1.90%
Lloyds Banking Group (LLOY) 43.13p -1.87%
Hikma Pharmaceuticals (HIK) 2,519.00p -1.72%
