Sector movers: Transport, travel stocks hit by Lufthansa, Emirates news

A profit warning from German carrier Deutsche Lufthansa and a cancelled aeroplane order by Emirates Airlines hit stocks in the UK transport, travel and leisure sectors on Wednesday.Shares in Lufthansa tumbled by as much as 14% in Frankfurt after saying that operating profits this year would be around €1bn, compared with a forecast of €1.3-1.5bn.The reason stated for the forecast cut is "a weaker-than-expected revenue development in the passenger and freight businesses as well as negative result impacts from strikes and the devaluation of the Venezuelan bolivar".Meanwhile, Dubai's Emirates Airlines has withdrawn its order for 70 Airbus A350 aircraft. "The decision follows on-going discussions with the airline in light of their fleet requirement review," Airbus said in a statement.Mike van Dulken, Head of Research at Accendo Markets, said that the cancellation has sparked "concerns about the health of traditionally strong traffic volumes from the Middle East".British Airways owner IAG was among the worst performers in London today, falling 4.4% to 394.4p, followed closely behind by easyJet and Ryanair.Travel groups TUI Travel and Thomas Cook were also trading in the red.In contrast, aircraft leasing company Avation was bucking the trend, rising over 7% after it forecast annual revenue above market hopes.It expects net revenue to rise 29% against a year ago to about $55m, which it said was due to being a commercial aircraft operating lessor with known and constant levels of lease revenue income.Avation also said it plans to add six aircraft to its 25-strong fleet by the end of 2014 and expects to have 36 by late 2015.Top performing sectors so far todayInsurance (non-life) 1,931.66 +0.33%Mining 16,517.58 +0.26%Pharmaceuticals & Biotechnology 12,888.33 +0.22%Life Insurance 7,316.55 +0.17%Bottom performing sectors so far todayMobile Telecommunications 4,532.17 -3.91%Forestry & Paper 11,525.35 -2.46%Industrial Metals & Mining 1,192.49 -2.44%Oil Equipment, Services & Distribution 24,053.05 -1.78%Industrial Transportation 2,964.27 -1.54%BC