London’s FTSE 100 was down 2.7% at 7,113.55 in afternoon trade on Thursday.
Travel-related shares were under pressure, with Premier Inn owner Whitbread and BA and Iberia owner IAG the two biggest losers on the index.
Discount retailer B&M European Value Retail was also weaker as it traded without entitlement to the dividend.
In a sea of red, Bunzl was the only real gainer on the index, after the distribution and services group said first-half operating margin was expected to be slightly higher than historic levels as inflation and acquisitions drove underlying growth.
Group revenue in the first half is expected to increase year-on-year by approximately 16% at actual exchange rates and by 12-13% on a constant currency basis, the company said.
FTSE 100 – Risers
Bunzl (BNZL) 2,691.00p 0.75%
BAE Systems (BA.) 828.40p 0.17%
Croda International (CRDA) 6,352.00p 0.03%
Vodafone Group (VOD) 126.52p 0.02%
Meggitt (MGGT) 789.20p -0.10%
Pearson (PSON) 745.00p -0.11%
Admiral Group (ADM) 2,241.00p -0.18%
WPP (WPP) 814.80p -0.63%
Coca-Cola HBC AG (CDI) (CCH) 1,805.00p -0.66%
Endeavour Mining (EDV) 1,708.00p -0.76%
FTSE 100 – Fallers
Whitbread (WTB) 2,384.00p -6.22%
International Consolidated Airlines Group SA (CDI) (IAG) 104.90p -6.07%
Smith (DS) (SMDS) 274.90p -5.98%
B&M European Value Retail S.A. (DI) (BME) 364.00p -5.80%
Anglo American (AAL) 2,927.50p -5.63%
Ocado Group (OCDO) 756.60p -5.54%
Barratt Developments (BDEV) 450.50p -5.36%
Mondi (MNDI) 1,434.00p -5.22%
Smurfit Kappa Group (CDI) (SKG) 2,712.00p -5.11%
Melrose Industries (MRO) 145.85p -4.98%
