FTSE punished by Banking and Travel stocks

FXStreet (Mumbai) – The London’s Ftse fell sharply on Monday on account of the sharp losses in the travel stocks, which suffered due to events in Greece, attacks in Tunisia.

The Ftse index currently trades 1.43% or 96.40 points lower at 6657.30 levels. At point of time, the index was down at 6561 levels, its lowest since Jan 19.

Travel and Bank stocks fall

The ftse travel and leisure index fell almost 2% on Monday. Among the index stocks, TUI AG and IAG fell 6.56% and 3.145 respectively. TUI travel is one of the company evacuating from tourists from Tunisia following Friday’s attack.

Meanwhile, losses in the banking stocks pushed the Ftse bank index lower by 1.64%. The top index gainer so far is Intertek; up 0.75%, followed by Randgold; up 0.54%.

Basic resources stocks also suffered, with the UK mining index falling 1% despite fresh monetary easing from China – interest rate cut.

The London’s Ftse fell sharply on Monday on account of the sharp losses in the travel stocks, which suffered due to events in Greece, attacks in Tunisia.

(Market News Provided by FXstreet)