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FTSE 100 falls as airline shares lose altitude on travel restrictions

Mon, 25th Jan 2021

The FTSE 100 followed the recent pattern of recent trading sessions as losses accelerated through the course of the day. By midday the index was down 0.5% at 6,662.37. Airline shares were under further pressure on concern over travel restrictions being introduced to curb the Covid-19 pandemic with International Consolidated Airlines down 7.2% to 140.7p. Online fashion retailer ASOS rose 6% to £50.76, having confirmed media speculation that it was in exclusive talks with Arcadia's administrators to acquire Topshop. Fellow online retailer Boohoo rallied 4% to 346.3p as investors embraced its decision to acquire the intellectual property assets of Debenhams for £55 million in cash. Infant merchandise retailer Mothercare reversed earlier heavy losses to trade up 1.7% to 11.75p on announcing that it expected to post a small annual operating loss, as the pandemic hurt sales following a restructure of the struggling group. In other sectors, pharmaceutical giant AstraZeneca rose 0.7% to £78.28 after it announced positive trial results and an approval in Japan, both for a lymphocytic leukaemia treatment. Automotive fluid system maker TI Fluid Systems firmed 2.2% to 240.3p as it forecast 'slightly' better-than-expected annual margins amid a fall in sales pinned on the pandemic. Inter-dealer broker TP ICAP shed 0.2% to 217.31p after its efforts to relocate staff to countries in the European Union in the wake of Brexit was delayed due to the pandemic. Financial services company JTC advanced 3.1% to 593.8p as it guided for annual results in line with management and consensus estimates following new business wins. Pawnbroker H&T gained 9.9% to 296.6p as it said full-year pre-tax profit was expected to be ahead of market expectations following stronger-than-anticipated performance in November and December. Sirius Real Estate added 1.7% to 88p after its Titanium joint venture with AXA IM Alts had acquired the Sigma Technopark in Augsburg, Germany for around €80 million from a fund managed by Corestate. Telecom services group Maintel gained 7.9% to 410p on forecasting annual revenue and adjusted earnings in line with guidance it delivered in September, despite the impact of Covid-19 lockdowns. Story provided by StockMarketWire.com

FTSE 100 Latest
Value6,517.14
Change-134.82