BUSINESS CLOSE: Austrian lockdown knocks travel stocks

BUSINESS CLOSE: Austrian lockdown knocks travel stocks; Ryanair to exit London Stock Exchange; Nationwide profits more than double

A sharp rise in Covid cases across Europe and news that Austria will impose a full lockdown from next week have been weighing on stock markets today.

In London, the FTSE 100 closed down 0.5 per cent, or 32.4 points, at 7,223.6, while the FTSE 250 fell 0.4 per cent, or 82.13 points, to 23,492.5.

In company news, Irish budget airline Ryanair has informed Britain’s financial watchdog of its intention to delist from the London Stock Exchange.,

Nationwide Building Society’s half-year profits have more than doubled, as it cashed in on Britain’s economic rebound.

Elsewhere, the Bank of England’s new chief economist, Hew Pill, said the weight of evidence was shifting towards a rise in interest rates next month but that he had not made a decision.

Speaking at an event in Bristol, he also said there was ‘no quick fix’ to bring inflation back to the 2 per cent target.

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Ryanair departs London after a decline in trading volumes but maintains its Dublin listing 

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