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Airline shares hit by Ebola fears | Airline shares hit by Ebola fears |
(about 5 hours later) | |
(Close): Shares in airlines have fallen sharply on worries that demand for travel will be hit by news of an Ebola case in Madrid. | |
British Airways owner IAG fell 6.9% and Easyjet shares dropped 5.3%. Worries over the possible impact on travel also hit Intercontinental Hotels, down 3.7%. | |
IAG and Carnival were the biggest fallers on the FTSE 100, with the index down 68.07 points at 6,495.58. | |
Investor confidence was also hit by gloomy figures from Germany. | Investor confidence was also hit by gloomy figures from Germany. |
Official figures showed that German industrial production shrank 4% in August, the biggest fall since early 2009. | Official figures showed that German industrial production shrank 4% in August, the biggest fall since early 2009. |
European markets also closed lower, with Germany's Dax index down 1.3% and France's Cac 40 dropping 1.8%. | |
However, the mining sector was enjoying a strong day following news of Glencore's bid for Rio Tinto. | However, the mining sector was enjoying a strong day following news of Glencore's bid for Rio Tinto. |
Rio Tinto shares closed 0.8% higher after the mining company said it had rejected a takeover bid from Glencore. | |
Shares in Glencore fell 2.5%, but among other mining firms Anglo American climbed 2% and Randgold rose 0.02%. | |
In the FTSE 250, shares in Cairn jumped 2% after the company said that it, together with joint venture partners, had discovered oil in a well off the coast of Senegal. | |
But shares in telecoms testing firm Spirent Communications sank 21.8% after it said third-quarter revenues were only expected to see a small rise. | |
"Trading conditions softened in the latter part of the third quarter in the United States and China," Spirent said. | "Trading conditions softened in the latter part of the third quarter in the United States and China," Spirent said. |
"Demand levels dipped sharply as a result of merger activity and delays in capital expenditure." | "Demand levels dipped sharply as a result of merger activity and delays in capital expenditure." |
On the currency markets, the pound fell 0.02% against the dollar to $1.6083 but rose 0.15% against the euro to €1.2729. |