Airlines slump in London on report government won’t add new destinations to safe list

U.K.-listed airlines slumped on Thursday on a report the British government won’t add any new countries to its “green” list for travel, and will remove a key destination.

According to the BBC, Portugal will be moved from England’s green travel list to amber, meaning people can only travel there for essential reasons. No new countries will be added to the green list, and “more countries” will be added to the red list, where travel is only permitted for extreme circumstances.

Shares of easyJet
EZJ,
-5.39%

and International Consolidated Airlines
IAG,
-5.09%

each lost 5%, while Wizz Air
WIZZ,
-2.69%

and Ryanair
RYA,
-2.57%

each slipped close to 3%.

The broader FTSE 100
UKX,
-0.80%

weakened, falling 0.9%, as U.S. equity futures soured, amid concerns about the U.S. Federal Reserve’s bond buying program.

The mining sector paced the retreat, with Fresnillo
FRES,
-4.62%

falling 4.8% and Antofagasta
ANTO,
-3.12%

slipping 3%.

B&M European Value Retail
BME,
-4.28%

fell 4% as the retailer said U.K. like-for-like sales in the first nine weeks of fiscal 2022 fell 1%, as it forecast a decline in margins for the year. In France, it said sales were “pleasing” since the lockdown ended on May 19. B&M more than doubled its profit in the year ending March 27 on 24% like-for-like sales growth in the U.K.

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