FTSE 100 climbs as airline stocks drive rally

posted on 1st July 2021 by Eddie Saunders
FTSE 100 climbs as airline stocks drive rally

By Jack Barnett, cityam.com

London’s FTSE 100 opened up this morning driven by a reversal of recent falls in airline stocks.

The capital’s premier index climbed 1.16 per cent in morning trading to reach 7,119.

A rally in airline stocks helped lift the index to pare back yesterday’s losses.

Airline stocks have been under pressure recently after EU states moved to curtailed travel from the UK to curb the spread of the Delta variant of coronavirus.

The mid-cap FTSE 250 opened up 1.03 per cent, while AIM share rose 0.54 per cent in the morning session.

Winners and losers

The day’s best performer so far was British Airways parent company IAG, climbing 4.05 per cent in the morning session. The gains reverse a trend in which shares in the company have notched daily losses.

Miner Fresnillo ranked second, adding 3.42 per cent, while software provider Aveva gained 3.34 per cent to come third.

Value retailer B&M was the day’s worst performer during the open, sliding 2.62 per cent.

Food delivery company Just Eat came second, losing 1.29 per cent, and insurer Admiral Group was the third worst performer, slipping 0.73 per cent.