BR100 Increased By (0.36%)
BR30 Decreased By (-0.13%)
KSE100 Increased By (0.22%)
KSE30 Increased By (0.37%)
AGHA 6.68 Increased By ▲ 0.01 (0.15%)
BECO 4.37 No Change ▼ 0.00 (0%)
BML 57.32 Increased By ▲ 0.88 (1.56%)
BOP 30.35 Increased By ▲ 0.01 (0.03%)
CNERGY 13.12 Increased By ▲ 0.03 (0.23%)
CSIL 5.41 Increased By ▲ 0.05 (0.93%)
FCCL 52.79 Increased By ▲ 0.41 (0.78%)
FFL 14.72 Decreased By ▼ -0.02 (-0.14%)
FNEL 1.12 No Change ▼ 0.00 (0%)
KEL 6.09 No Change ▼ 0.00 (0%)
KOSM 5.73 Increased By ▲ 0.77 (15.52%)
LOTCHEM 26.46 Decreased By ▼ -0.89 (-3.25%)
MLCF 93.16 Increased By ▲ 0.41 (0.44%)
NBP 164.66 Decreased By ▼ -0.32 (-0.19%)
NCPL 55.66 Increased By ▲ 0.02 (0.04%)
NPL 61.16 Decreased By ▼ -0.10 (-0.16%)
OGDC 316.73 Decreased By ▼ -1.03 (-0.32%)
PACE 9.87 Decreased By ▼ -0.06 (-0.6%)
PAEL 35.63 Increased By ▲ 0.13 (0.37%)
PIBTL 14.68 Increased By ▲ 0.11 (0.75%)
PPL 226.91 Decreased By ▼ -0.88 (-0.39%)
PRL 93.02 Increased By ▲ 0.45 (0.49%)
PTC 60.26 Decreased By ▼ -0.37 (-0.61%)
SSGC 23.81 Increased By ▲ 0.01 (0.04%)
TBL 8.75 Increased By ▲ 0.07 (0.81%)
TELE 7.80 Increased By ▲ 0.02 (0.26%)
TPL 22.35 Increased By ▲ 0.12 (0.54%)
TPLP 12.97 Increased By ▲ 0.30 (2.37%)
TREET 22.16 Decreased By ▼ -0.38 (-1.69%)
TRG 56.56 Decreased By ▼ -1.24 (-2.15%)
Markets

Britain's FTSE falls as travel stocks continue slide

Published Updated

imageLONDON: UK shares retreated on Tuesday, with the British travel sector down again as weakness following attacks in France and Mali continued to weigh on shares.

British travel and leisure stocks were hit after data from ForwardKeys showed that new flight bookings to Paris, one of the world's most visited cities, have fallen by over a quarter in the week following the attacks there that killed 130 people.

The FTSE 350 travel and leisure index was down 1.2 percent, set to extend its losses for a third trading session straight.

The U.S. State Department issued a global travel alert for Americans planning to travel following deadly militant attacks in France and Mali.

Adding to global tensions, Turkish fighter jets shot down a Russian-made warplane near the Syrian border.

"There's a bit of geopolitical concern out there at the moment - we've had a couple of incidents last week, and now today our screens are filled with pictures of this Russian jet being shot down over Syria by Turkey," Jasper Lawler, market analyst at CMC Markets, said, adding that this was dragging on travel-sensitive areas of the stock market in particular.

Budget airline carrier easyJet fell 3.6 percent, while International Consolidated Airlines Group was down 3.3 percent.

Intercontinental Hotels Group declined 2.7 percent, and tourism company TUI retreated 1.4 percent.

Education publisher Pearson joined the travel stocks at the bottom of the index, falling 2.9 percent after Berenberg analysts cut their price target on the stock, saying that it was more likely that the dividend would need to be reset.

The FTSE 100 index was down 0.8 percent at 6,257.60 points at 0932 GMT, extending the previous session's losses.

Firmly in positive territory was engineering support services company Babcock International Group, up nearly 5 percent after the company reported a rise in first half revenue and said that it was on track to meet its full-year expectations.

Likewise product testing firm Intertek Group rose 2.7 percent on the back of a set of positive company results, beating revenue forecasts and reaffirming its full-year target.

Copyright Reuters, 2015

Comments

Comments are closed for this article.