Recovery plays slump in London after Austria lockdown

By Steve Goldstein

It was a classic rotation away from recovery plays into defensive and stay-at-home stocks after Austria announced a lockdown and Germany said it was contemplating such a move.

The FTSE 100 /zigman2/quotes/210598409/delayed UK:UKX +0.17% fell 0.6% to 7,211.56. .

British Airways owner International Airlines Group /zigman2/quotes/208070069/delayed UK:IAG +2.19% was the worst decliner, shedding 5%. Engine maker Rolls-Royce /zigman2/quotes/203646520/delayed UK:RR +0.69% and catering group Compass /zigman2/quotes/200043088/delayed UK:CPG -0.30% also lost ground.

Airport restaurant operator SSP /zigman2/quotes/205370875/delayed UK:SSPG -0.46% was the worst FTSE 250 component, followed closely by easyJet /zigman2/quotes/202825892/delayed UK:EZJ +0.25% .

Food delivery companies however rose, with Ocado Group /zigman2/quotes/207225647/delayed UK:OCDO -1.79% and Just Eat Takeaway.com /zigman2/quotes/216303066/delayed UK:JET +0.74% . Royal Mail , which has been buoyed by deliveries, and Lysol maker Reckitt Benckiser /zigman2/quotes/206856088/delayed UK:RKT -0.03% advanced.

So far there’s little indication the U.K. government will join the lockdown moves, though the infection rate in the U.K. is slightly higher than Germany’s. Prime Minister Boris Johnson is counting on the rollout of boosters to slow the tide.

/zigman2/quotes/210598409/delayed

Add to watchlist UK:UKX

FTSE 100 Index

UK : FTSE UK

7,484.25

+12.48 +0.17%

Volume: 523,526

March 28, 2023 4:59p

/zigman2/quotes/208070069/delayed

Add to watchlist UK:IAG

International Consolidated Airlines Group S.A.

UK : U.K.: London

140.24 p

+3.00 +2.19%

Volume: 10.67M

March 28, 2023 4:35p

P/E Ratio

19.42

Dividend Yield

0.00%

Market Cap

£6.80 billion

Rev. per Employee

£297,987

/zigman2/quotes/203646520/delayed

Add to watchlist UK:RR

Rolls-Royce Holdings PLC

UK : U.K.: London

145.34 p

+1.00 +0.69%

Volume: 12.74M

March 28, 2023 4:35p

P/E Ratio

N/A

Dividend Yield

N/A

Market Cap

£12.08 billion

Rev. per Employee

£322,866

/zigman2/quotes/200043088/delayed

Add to watchlist UK:CPG

Compass Group PLC

UK : U.K.: London

2,004.00 p

-6.00 -0.30%

Volume: 1.52M

March 28, 2023 4:35p

P/E Ratio

32.03

Dividend Yield

1.57%

Market Cap

£35.08 billion

Rev. per Employee

N/A

/zigman2/quotes/205370875/delayed

Add to watchlist UK:SSPG

SSP Group PLC

UK : U.K.: London

236.50 p

-1.10 -0.46%

Volume: 1.05M

March 28, 2023 4:35p

P/E Ratio

N/A

Dividend Yield

0.00%

Market Cap

£1.89 billion

Rev. per Employee

N/A

/zigman2/quotes/202825892/delayed

Add to watchlist UK:EZJ

easyJet PLC

UK : U.K.: London

476.10 p

+1.20 +0.25%

Volume: 2.68M

March 28, 2023 4:36p

P/E Ratio

N/A

Dividend Yield

0.00%

Market Cap

£3.59 billion

Rev. per Employee

£413,519

/zigman2/quotes/207225647/delayed

Add to watchlist UK:OCDO

Ocado Group PLC

UK : U.K.: London

444.00 p

-8.10 -1.79%

Volume: 2.83M

March 28, 2023 4:35p

P/E Ratio

N/A

Dividend Yield

N/A

Market Cap

£3.69 billion

Rev. per Employee

£127,320

/zigman2/quotes/216303066/delayed

Add to watchlist UK:JET

Just Eat Takeaway.com N.V.

UK : U.K.: London

1,467.40 p

+10.80 +0.74%

Volume: 112,558

March 28, 2023 4:35p

P/E Ratio

N/A

Dividend Yield

N/A

Market Cap

£3.20 billion

Rev. per Employee

N/A

/zigman2/quotes/206856088/delayed

Add to watchlist UK:RKT

Reckitt Benckiser Group PLC

UK : U.K.: London

6,134.00 p

-2.00 -0.03%

Volume: 571,449

March 28, 2023 4:35p

P/E Ratio

18.83

Dividend Yield

2.99%

Market Cap

£43.93 billion

Rev. per Employee

£278,886