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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 fell 0.6% to 7,211.56. .

British Airways owner International Airlines Group was the worst decliner, shedding 5%. Engine maker Rolls-Royce and catering group Compass also lost ground.

   Airport restaurant operator SSP   was the worst FTSE 250 component, followed closely by easyJet . 

Food delivery companies however rose, with Ocado Group and Just Eat . Royal Mail , which has been buoyed by deliveries, and Lysol maker Reckitt Benckiser 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.

-Steve Goldstein


(END) Dow Jones Newswires

11-19-21 0805ET

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