(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)
