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* Travel and leisure sector drops over 4%
* Oil stocks drop on prospect of weak Asian demand
* Burberry plunges as CEO resigns to join Ferragamo
* Nokia tops STOXX 600 on GS upgrade
(Updates to market close)
By Sagarika Jaisinghani and Ambar Warrick
June 28 (Reuters) - European shares ended lower on Monday,
with travel stocks leading losses on concerns over bans on
British tourists, while a spike in Asian COVID-19 infections hit
crude prices and saw energy stocks tumble more than 2%.
The pan-European STOXX 600 ended 0.6% lower, with
the travel and leisure index down 4.4% to a one-month
low.
The Times reported that Germany was considering a ban on
British travellers to the European Union, regardless of their
vaccination status, because of the highly contagious, widespread
Delta variant of the coronavirus.
Hong Kong also announced a ban on all passenger flights from
the UK, starting this week, due to similar concerns.
International Consolidated Airlines, Easyjet
, Wizz Air and Ryanair fell between 4%
and 6%.
"Despite a number of popular tourist spots now being on
offer to British holiday makers thanks to the government’s
updated green list, it is precarious and it won’t mean a great
deal if Germany gets its way and UK tourists are banned entry to
the whole EU because of a concern over the Delta variant," said
Danni Hewson, financial analyst at AJ Bell.
Germany's DAX index ended 0.3% lower, while British
blue-chip stocks shed 0.9%.
Energy stocks fell 2.3%, with oil prices dropping as
a spike in Asian infections of the Delta variant threatened to
dent demand.
Crude markets were also rattled by anticipation ahead of a
major OPEC+ meeting this week, where the cartel could possibly
increase production.
The benchmark STOXX 600 traded below record highs hit just
over a week ago as global financial markets turned choppy
following signals the U.S. Federal Reserve could start raising
interest rates sooner than expected.
Renewed concerns over the coronavirus have also kept markets
off record highs.
Technology stocks rose 0.4%, and were among the few
gainers for the day as jitters over the Delta variant saw
investors flood back into pandemic-resistant sectors.
All eyes this week will be on June inflation readings as
well as business activity data from across the euro zone.
In company news, Burberry Group's shares tumbled
8.7% to the bottom of the STOXX 600 as Chief Executive Officer
Marco Gobbetti resigned to take the top job at Italian luxury
group Salvatore Ferragamo. Ferragamo shares fell 2.7%.
Nokia topped the STOXX 600 with a 5.8% jump,
after Goldman Sachs upgraded the stock's rating on potential in
the wireless equipment market.
(Reporting by Sagarika Jaisinghani and Ambar Warrick in
Bengaluru; Editing by Shounak Dasgupta, Uttaresh.V and Jonathan
Oatis)
