UK: Shares drift downwards after five straight days of gains
After five days of gains, London’s equity markets suffered a general reverse yesterday that saw widespread falls across all sectors.
The FTSE 100 index lost 1.7 per cent of its value and dropped 67 points to 3868.8, while the FTSE 250 index lost 0.7 per cent of its value to end the day 26.9 points down at 4135. Turnover was moderate, with 2.3 billion shares traded during the session. The media sector was perhaps hardest-hit yesterday, with several stocks losing more than five per cent of their value on the day.
In the travel sector, the day’s biggest gain was by Ryanair, which saw its shares gain 14.5p in value to end the day at 455.5p, while other airlines did not have such a positive session; British Airways lost 3.25p to close at 121p and EasyJet lost 10.25p to end the day at 226.75p. The online retailer Lastminute.com lost 0.5p to 88.75p – roughly between its high- and low-points for the year, 116.5p and 88.75p. MyTravel lost 0.875p to end the day at 11.25p while First Choice remained unchanged at 84p.
