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Dalata — the biggest hotel operator in the State — was down 3 per cent, while Ryanair was down 4 per cent on a bad day for the hospitality and travel sector. London’s top index fell below the 7,000-point mark for the first time since mid-June. At its trough, the index was trading down 2.5 per cent at its lowest since March when the market had plummeted after a nuclear power plant caught fire in Ukraine.
The index sank 2.3 per cent on the day, to its lowest level since December 2020. Total declines from a January record high are now 21 per cent, confirming a technical bear market.Energy and miners led the sell-off in Europe as commodities slumped on reduced demand concerns as global rate hikes weigh on economic growth. More defensive sectors like food and healthcare outperformed, while cyclicals slumped.
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Source: IrishTimes - 🏆 3. / 98 Read more »