Get 40% Off
😲 Missed the +20.8% surge in our stock strategy last month? Not again! Get premium insightsGet 40% Off

UPDATE 2-Energy, travel stocks drag FTSE 100 down

Published 18/01/2021, 10:38
Updated 18/01/2021, 18:12
© Reuters.

© Reuters.

(For a Reuters live blog on U.S., UK and European stock
markets, click LIVE/ or type LIVE/ in a news window)
* Oil majors weigh
* UK faces possible drop in vaccine supply
* AstraZeneca rises on U.S. nod for cancer drug
* Centrica down as finance head steps down
* FTSE 100 down 0.2%, FTSE 250 up 0.1%

(Updates to market close; Adds details, comment)
By Shivani Kumaresan
Jan 18 (Reuters) - London's FTSE 100 slipped on Monday,
weighed down by falls in energy and travel stocks, while tighter
restrictions on businesses led to concerns about the near-term
impact on the economy.
The blue-chip FTSE 100 index .FTSE slipped 0.2% in
listless trading across Europe, while the domestically focussed
mid-cap FTSE 250 index .FTMC rose 0.1%.
Energy majors BP BP.L and Royal Dutch Shell RDSa.L were
the biggest drag on the index as oil prices slid on fears over
soaring COVID-19 cases around the world and the slow pace of
vaccinations against the virus. O/R
Travel and leisure stocks, including British Airways-owner
IAG ICAG.L , EasyJet EZJ.L and Intercontinental Hotels
IHG.L , shed between 0.8% and 1.9% as all travellers to Britain
must have a recent negative COVID-19 test and be prepared to
quarantine at home for 10 days on arrival.
"Lacking a U.S. intervention, broadly unimpressed with
China's Q4 GDP rebound due to a drop in retail sales, and
anxious about how Wednesday's inauguration is going to play out
across the States, the European indices dozed through the
session," wrote Connor Campbell, a financial analyst at
Spreadex.
The FTSE 100 fell 2% last week after a rally fuelled by
Brexit optimism, as investors were worried that more stringent
restrictions to curb coronavirus infections might derail
prospects of a swift economic recovery.
Meanwhile, Britain's vaccine deployment minister, Nadhim
Zahawi, raised concerns about vaccine supply, saying that the
rollout was limited by "lumpy" manufacturing and that Pfizer's
changes to its production could lead to a brief supply
disruption. Among individual stocks, drugmaker AstraZeneca AZN.L rose
0.9% after saying its breast cancer drug received approval as a
treatment for a certain type of advanced gastric cancer in the
United States. Energy services company Centrica Plc CNA.L lost 2.2% after
it said its chief financial officer, Johnathan Ford, would step
down on Jan. 31.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.