Travel Stocks Weigh On FTSE 100

(RTTNews) - U.K. stocks declined on Monday, with travel-related stocks coming under selling pressure after Britain announced an unexpected 14-day quarantine on travelers coming from Spain because of a surge of coronavirus cases.

The Spanish health ministry reported more than 900 new cases of the coronavirus on Friday.

The benchmark FTSE 100 dropped 10 points, or 0.17 percent, to 6,112 after declining 1.4 percent on Friday.

Tour operator TUI AG and airline easyJet slumped around 11 percent, while British Airways-owner IAG plunged 8.7 percent.

Ryanair Holdings lost 5 percent. The company said it expected air travel to be depressed in Europe for the next two to three years due to the Covid-19 pandemic.

HSBC Holdings lost 2.8 percent. Responding to Chinese media reports over dealings with Huawei Technologies Co., the bank denied media reports that it had "framed" the Chinese telecom giant and played a role in the arrest of the chief financial officer of Huawei.

AstraZeneca shares were little changed. The company announced that its Calquence (acalabrutinib) has been recommended for marketing authorisation in the European Union for chronic lymphocytic leukaemia, the most common type of leukaemia in adults.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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