Mining stocks drag FTSE 100 from 16-month highs; airlines soar

Mining stocks knocked London's FTSE 100 index off 16-month highs on Thursday as a hawkish turn by the Federal Reserve hit commodity prices, although Britain's plans to ease travel restrictions allowed airline shares to buck the trend.

Mining stocks knocked London's FTSE 100 index off 16-month highs on Thursday as a hawkish turn by the Federal Reserve hit commodity prices, although Britain's plans to ease travel restrictions allowed airline shares to buck the trend. The blue-chip index fell 0.5% and was on track for its biggest percentage fall in two weeks. Miners, fell nearly 2% as metal prices slipped after the U.S. Federal Reserve signalled an earlier-than-expected change in its broader policy.

Large dollar-earning consumer staples companies Unilever , Diageo and Reckitt Benckiser Group fell between 0.6% and 0.8%. The domestically focused mid-cap FTSE 250 index declined 0.2%.

However, airlines including Wizz Air, Ryanair Holdings, British Airways-owner IAG and EasyJet Plc jumped between 2% and 3.3% after Britain said it was considering allowing those who are double vaccinated against COVID-19 to enjoy a foreign holiday without intrusive red tape. Premier Inn-owner Whitbread gained 4.6% after saying hotel bookings in its tourist locations picked up in the run-up to the summer travel season.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)