Barcelona terror attacks shake stocks in tourism companies

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Photo credits: GETTY IMAGES

Terror attacks in Spain shook European markets on Friday, sending airline, hotel and travel-agency stocks into the red amid fears of a pending drop in tourist numbers across the continent.

Investor jitters dragged on London’s blue chip index, which slid 0.86 per cent or 63.89 points to 7,323.98.

David Madden, a market analyst at CMC Markets, said: “The tragic event in Barcelona yesterday has shook tourist-related stocks.

“When events like this happen, traders wonder will there be a negative impact on tourism, and companies in the travel and leisure sector feel the pressure.”

British Airways owner IAG was among the worst-performing stocks, down 12.5p to 611.5p while travel agency TUI dropped 9p to 1,325p and low-cost carrier easyJet fell 11p to 1,290p.

The tragedy also impacted the share price of InterContinental FHotels Group, which fell 64p to 3,924p.

Merlin Entertainments was knocked down 3.9p to 460.5p, amid fears of a slowdown in visitors to some of the company’s main tourist attractions including Alton Towers and the London Eye.

Continental carriers were dragging down their respective European indexes, leaving the French CAC 40 down 0.64 per cent, the German Dax down 0.31 per cent and Spain’s IBEX down 0.56 per cent.

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