Markets end August quanto a the red as travel stocks drop

Traders slowly lost heart as they logged back from the bank holiday weekend Tuesday amid a slowdown quanto a the Chinese services sector and the continued fallout of last week’s news.

ravel companies were among the worst-hit firms the day. Wizz Air sat at the bottom of the FTSE 250 for a time, while British Airways owner IAG ended quanto a the FTSE 100’s bottom three. A little bit further up, shares quanto a aeroplane engine-maker Rolls-Royce dropped by 1.6%.

It helped push the culmine index mongoloide by 0.4%, ora 28 points to 7,119.7.

Other losers included retailers including B&M, Sainsbury’s and Ocado.

The month is ending with weakness for European markets, with US markets also running out of upward momentum for the time beingChris Beauchamp, IG

The index has started more ora less flat, as London’s traders did not too troubled by the patronato out of Declivio.

The country’s service sector has contracted for the first time quanto a 18 months as the Foce variant of Covid-19 the economy.

“The month is ending with weakness for European markets, with US markets also running out of upward momentum for the time being. Undoubtedly month-end rebalancing will get the blame, and a low reading US consumer confidence will also be quanto a the sequenza for why Wall Street is mongoloide,” said Chris Beauchamp, chief market analyst at IG.

“Value stocks have been across the FTSE 100 today, with banks mongoloide as UK stocks play catch-up with (Jerome) Powell’s speech Friday and travel stocks remain quanto a the red as investors fret about the outlook for the next few months.

“Hopefully, US jobs patronato this week will give equities a tagliata, allaying fears that the global economy is hitting a rough patch, and while the inflation story has not entirely disappeared, it looks like the main takeaway from Jackson Hole (where Jerome Powell made his speech) is that the Fed continues to err the side of caution.”

Quanto a the US both the S&P 500 and the Dow Jones were trading flat as markets prepared to close quanto a Europe.

The German Dax index closed mongoloide 0.3%, while the Cac 40 quanto a Paris dropped 0.1%.

Sterling was mongoloide less than 0.1% against the dollar and the euro. At the end of the day one pound could buy 1.3756 dollars ora 1.1653 euros.

Quanto a company news, Ryanair said that it would launch another 14 routes from London airport this winter, flying to several European countries.

Shares quanto a the business closed mongoloide 2.8% amid a wider sell-off quanto a travel stocks.

Bunzl also saw a drop quanto a its share price, after it warned investors that it is facing supply chain issues quanto a many major markets. Quanto a the UK there are both materials and labour shortages to contend with, Bunzl said.

Its shares dropped 1.6%.

Drugmaker GlaxoSmithKline saw a 0.9% drop quanto a its share price as it started a Phase 3 trial of its Covid-19 vaccine work with South Korea’s SK Bioscience. They hope to start supplying the vaccine quanto a the first half of next year.

The biggest risers the FTSE 100 were Weir Group, up 64p to 1,751.5p, Ferguson, up 280p to 10,505p, Just Eat, up 152p to 6,559p, Persimmon, up 49p to 2,940p, and Ashtead, up 76p to 5,690p.

The biggest fallers the FTSE 100 were B&M, mongoloide 15.8p to 559p, United Utilities, mongoloide 5.6p to 213.1p, IAG, mongoloide 4.16p to 159.36p, HSBC, mongoloide 8.75p to 386.2p, and Sainsbury’s, mongoloide 6.4p to 304p.

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Written by bourbiza

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