London open: Stocks slide amid worries about Omicron, further curbs

(Sharecast News) - London stocks slid in early trade on Monday, with travel and leisure shares under the cosh amid worries about the spread of Omicron and the imposition of further restrictions.
At 0840 GMT, the FTSE 100 was down 1.8% at 7,138.15 after Health Secretary Sajid Javid said more curbs could be brought in within days.

CMC Markets analyst Michael Hewson said: "With record Covid cases in the UK in the past few days, and new restrictions being implemented across Europe, it almost feels like an action replay of 12 months ago, with some scientists in the UK calling for a fresh lockdown before Christmas, in a move that is likely to be as welcome as toothache.

"In the Netherlands, the government there has announced a fresh lockdown, while in the rest of Europe governments there are holding emergency meetings on new restrictions, with France and Germany imposing bans on arrivals from the UK nationals. In Ireland, the government there has said that all bars, restaurants, and cinemas must close by 8pm.

"Meanwhile in the US President Biden's suffered a setback when Democrat Senator Joe Manchin rejected the $2trn tax and spending plan, over concerns about rising inflation."

In equity markets, travel and leisure shares were under pressure. BA and Iberia parent IAG, caterer Compass, Premier Inn owner Whitbread, InterContinental Hotels, Wizz Air, easyJet, Upper Crust owner SSP, Cineworld, WH Smith and Tui were all in the red. The weakness also came as Germany became the latest European country to tighten restrictions on travellers from Britain.

Miners were also on the back foot, with Antofagasta, Anglo American and Glencore all trading lower.

Events business Informa was the worst performer on the FTSE 100, no doubt amid concerns about the impact of further restrictions.

Rolls-Royce was down as it said that Qatar has agreed to invest £85m in its nuclear reactor business in return for a 10% stake The investment is being made by the emirate's sovereign wealth fund, the Qatar Investment Authority (QIA).

Market Movers

FTSE 100 (UKX) 7,138.15 -1.81%
FTSE 250 (MCX) 22,369.07 -1.81%
techMARK (TASX) 4,394.52 -1.58%

FTSE 100 - Risers

Royal Mail (RMG) 498.00p 0.34%
Polymetal International (POLY) 1,304.00p 0.19%
Avast (AVST) 613.80p -0.10%
Meggitt (MGGT) 732.20p -0.16%
Ocado Group (OCDO) 1,718.00p -0.23%
Fresnillo (FRES) 911.80p -0.33%
Auto Trader Group (AUTO) 716.20p -0.33%
Dechra Pharmaceuticals (DPH) 4,986.00p -0.38%
Reckitt Benckiser Group (RKT) 6,202.00p -0.45%
Sainsbury (J) (SBRY) 269.90p -0.48%

FTSE 100 - Fallers

Informa (INF) 473.10p -5.76%
Antofagasta (ANTO) 1,298.50p -5.18%
International Consolidated Airlines Group SA (CDI) (IAG) 126.76p -4.00%
Rolls-Royce Holdings (RR.) 110.12p -3.66%
Compass Group (CPG) 1,502.50p -3.47%
Anglo American (AAL) 2,842.50p -3.41%
CRH (CDI) (CRH) 3,679.00p -3.26%
Ashtead Group (AHT) 5,836.00p -3.25%
Prudential (PRU) 1,234.50p -3.18%
Coca-Cola HBC AG (CDI) (CCH) 2,441.00p -3.13%

FTSE 250 - Risers

Personal Assets Trust (PNL) 50,500.00p 0.60%
Ultra Electronics Holdings (ULE) 3,154.00p 0.57%
BMO Global Smaller Companies (BGSC) 170.00p 0.00%
JTC (JTC) 877.00p 0.00%
ICG Enterprise Trust (ICGT) 1,290.00p 0.00%
Schroder Asia Pacific Fund (SDP) 598.00p 0.00%
Sanne Group (SNN) 911.00p 0.00%
Biffa (BIFF) 350.00p 0.00%
AVI Global Trust (AGT) 1,052.00p 0.00%
VinaCapital Vietnam Opportunity Fund Ltd. (VOF) 512.00p 0.00%

FTSE 250 - Fallers

Network International Holdings (NETW) 264.20p -5.64%
Cineworld Group (CINE) 31.84p -5.46%
SSP Group (SSPG) 211.60p -5.28%
Trustpilot Group (TRST) 300.00p -5.12%
Ferrexpo (FXPO) 290.00p -4.73%
Wizz Air Holdings (WIZZ) 3,828.00p -4.49%
TUI AG Reg Shs (DI) (TUI) 206.00p -4.41%
WH Smith (SMWH) 1,340.00p -4.29%
IWG (IWG) 257.10p -4.07%
C&C Group (CDI) (CCR) 212.40p -4.07%