FTSE 100 Slips Amid Travel and Leisure Sector Decline

The FTSE 100 index fell due to travel and leisure stock declines, with British Airways and Holiday Inn owners seeing significant drops. The midcap FTSE 250 rebounded slightly, while UK's housing sector showed gains. Market sentiment remains cautious amidst economic uncertainties.

The FTSE 100 index slipped 0.2% at 1100 GMT on Tuesday, continuing its downward trend for the sixth consecutive session, largely due to declines in travel and leisure stocks. British Airways owner IAG saw a 4% drop following Delta Air Lines' reduced first-quarter profit forecast amid U.S. economic concerns.

Adding to the blue-chip index's woes was a 3.3% fall in Holiday Inn's owner, IHG. Meanwhile, the overall travel and leisure sector marked a 2.3% decline, further pressing the index. A 0.4% rise in Sterling against the dollar also contributed to the export-heavy index's losses.

Conversely, the midcap FTSE 250 inched up 0.4% after suffering a near two-month low. The UK's homebuilder sector showed promise with a 2.2% increase, prominently led by Persimmon. Additionally, Rotork Plc boosted the midcap with a 6.7% rise after announcing a significant acquisition and share buyback plan.

(With inputs from agencies.)