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FTSE 100 movers: Travel stocks hit; Smurfit gains

By Michele Maatouk

Date: Friday 18 Sep 2020

FTSE 100 movers: Travel stocks hit; Smurfit gains

(Sharecast News) - London's FTSE 100 was down 0.5% at 6,017.26 in afternoon trade on Friday amid worries about rising coronavirus cases and the imposition of further restrictions.
Travel-related stocks such as British Airways parent IAG, engine marker Rolls-Royce and InterContinental Hotels were weaker amid concerns about further restrictions.

IG said: "From a tourism perspective, the rise in Covid cases in the UK does little to help boost sentiment around travel stocks. While we have become accustomed to the UK imposing quarantine restrictions on visitors from specific countries, the prospect of quarantines on UK tourisms holidaying abroad would put a major stake in heart of the travel industry.

"With the growing likeliness of quarantine restrictions being imposed on UK visitors, it comes as no surprise to see the likes of IAG, easyJet, Carnival, Rolls Royce, and InterContinental Hotels Group heading up the FTSE 350 losers. "

Ryanair said earlier that it will cut its October capacity by another 20% as travel restrictions continue to dent bookings, and warned that cuts to the winter schedule are likely.

Precious metals miner Polymetal was under the cosh after its biggest shareholder, IST Group, sold 19 million shares in the company in a placing.

On the upside, paper and packing companies Smurfit Kappa and Mondi both rallied, along with cybersecurity firm Avast.

FTSE 100 - Risers

Fresnillo (FRES) 1,334.50p 4.26%
Sainsbury (J) (SBRY) 196.15p 2.62%
Smurfit Kappa Group (SKG) 3,104.00p 2.37%
Mondi (MNDI) 1,612.00p 2.12%
Avast (AVST) 530.50p 1.82%
Evraz (EVR) 345.70p 1.74%
Ocado Group (OCDO) 2,756.00p 1.62%
Vodafone Group (VOD) 108.94p 1.49%
Aveva Group (AVV) 4,904.00p 1.45%
Rio Tinto (RIO) 5,062.00p 1.44%

FTSE 100 - Fallers

International Consolidated Airlines Group SA (CDI) (IAG) 115.35p -10.89%
Polymetal International (POLY) 1,787.50p -4.97%
Rolls-Royce Holdings (RR.) 181.00p -4.69%
InterContinental Hotels Group (IHG) 4,135.00p -4.53%
Land Securities Group (LAND) 535.20p -4.21%
Melrose Industries (MRO) 120.35p -3.14%
British Land Company (BLND) 354.60p -3.06%
Johnson Matthey (JMAT) 2,530.00p -2.77%
Lloyds Banking Group (LLOY) 25.55p -2.70%
Compass Group (CPG) 1,284.50p -2.65%

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