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Share Price: 503.70
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Change: -6.70 (-1.31%)
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UPDATE 2-Energy, financials drag FTSE 100 lower; Burberry tumbles

Mon, 28th Jun 2021 17:05

(For a Reuters live blog on U.S., UK and European stock
markets, click LIVE/ or type LIVE/ in a news window)

* Burberry slips as CEO steps down

* Greggs gains on sales recovery

* FTSE 100 down 0.9%, FTSE 250 off 0.5%
(Updates to close)

By Devik Jain and Amal S

June 28 (Reuters) - London's FTSE 100 marked its worst day
in over a week on Monday, dragged down by losses in heavyweight
energy and financial stocks, while Burberry slipped to the
bottom of the index after the resignation of its chief
executive.

The blue-chip index fell 0.9%, with Burberry
tumbling 8.7% after the luxury group said its CEO Marco
Gobbetti would step down to take up another opportunity in his
native Italy..

Oil majors BP and Royal Dutch Shell fell
3.2% and 3.3% respectively, tracking weaker crude.

Life insurers and banks fell
over 1.7% and were among the biggest drags to the index.

Travel-related stocks fell 3.4% with Wizz Air
, Ryanair Holdings, British Airways-owner IAG
and Easyjet falling between 3.8% and 5.6% after
a report said Germany would attempt to ban British travellers
from the European Union regardless of whether or not they have
had a COVID-19 vaccine.

"Summer 2021 was supposed to bring salvation for the UK
travel sector as lockdowns were lifted and arms were jabbed;
instead it has brought more confusion and a dawning realisation
that a big money booking boost isn't on the cards," said Danni
Hewson, financial analyst at AJ Bell.

However, Prime Minister Boris Johnson said Britain is on
course to be able to lift most remaining COVID-19 restrictions
on July 19.

The FTSE 100 has gained 0.9% so far in June and is on track
for a fifth straight monthly gain on expectations of a stronger
economic recovery on the back of accelerating vaccine rollouts
and ultra-loose monetary policies.

However, the FTSE 250 is set for its first monthly drop
since January as Britain delayed its complete reopening on
concerns over a recent spike in COVID-19 infections.

The domestically focused mid-cap FTSE 250 index
declined 0.5%.

Among stocks, Greggs rose 2.9% after the British
bakery and fast-food chain said sales recovery was stronger than
anticipated, adding that a sustained recovery from the COVID-19
pandemic could boost its annual profit.

(Reporting by Devik Jain and Amal S in Bengaluru; Editing by
Subhranshu Sahu and Bernadette Baum)

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*

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Today 16:08

BP profit slides by 40% as refinery outage offsets higher output

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*

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Today 12:00

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Today 09:09

LONDON MARKET OPEN: Stocks track global equities rise while BP falls

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Today 08:51

TOP NEWS: BP keeps up pace of share buybacks despite profit decline

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BP in $1.75bn buyback as Q1 profits fall on weaker prices, margins

(Sharecast News) - BP reported a worse-than-expected fall in first-quarter profit on the back of lower oil and gas prices, an outage at a US refinery and "significantly weaker" fuels margins as it also started a $1.75bn share buyback.

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3 May 2024 13:47

British regulator awards more North Sea oil and gas licences

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*

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2 May 2024 12:02

LONDON MARKET MIDDAY: FTSE 100 shines but "mixed feelings" after Fed

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1 May 2024 18:30

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30 Apr 2024 14:38

UK earnings, trading statements calendar - next 7 days

Wednesday 1 May 
Anexo Group PLCFull Year Results
Cambridge Cognition Holdings PLCFull Year Results
Computacenter PLCTrading Statement
Georgia Capital PLCQ1 Results
GSK PLCQ1 Results
Haleon PLCTrading Statement
HSS Hire Group PLCFull Year Results
Intelligent Ultrasound Group PLCFull Year Results
Maintel Holdings PLCFull Year Results
Next PLCTrading Statement
Smith & Nephew PLCTrading Statement
Thursday 2 May 
Endeavour Mining PLCQ1 Results
First Tin PLCTrading Statement
Hiscox LtdTrading Statement
International Personal Finance PLCTrading Statement
Kerry Group PLCTrading Statement
Lancashire Holdings LtdTrading Statement
Melrose Industries PLCTrading Statement
NAHL Group PLCFull Year Results
Reach PLCTrading Statement
Shell PLCQ1 Results
Smiths News PLCHalf Year Results
Smurfit Kappa Group PLCTrading Statement
Spectris PLCTrading Statement
Standard Chartered PLCQ1 Results
TI Fluid Systems PLCQ1 Results
Friday 3 May 
InterContinental Hotels Group PLCTrading Statement
Mondi PLCTrading Statement
Trainline PLCFull Year Results
Monday 6 May 
no events scheduled 
Tuesday 7 May 
Arecor Therapeutics PLCFull Year Results
BP PLCQ1 Results
Ebiquity PLCFull Year Results
IWG PLCTrading Statement
Kosmos Energy LtdQ1 Results
MaxCyte IncQ1 Results
Trident Royalties PLCTrading Statement
Vaalco Energy IncQ1 Results
  
Comments and questions to newsroom@alliancenews.com
  
A full 21-day events calendar is provided each day with a subscription to Alliance News UK Professional.
  
Copyright 2024 Alliance News Ltd. All Rights Reserved.

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24 Apr 2024 13:24

Pressure on gas and LNG prices to help switch from coal, says J.P. Morgan

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