FILE PHOTO: The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, July 24, 2020. REUTERS/Staff (Reuters) – European shares fell on Monday as travel stocks slumped in early deals after Britain imposed a quarantine on travellers returning from Spain because of a surge of coronavirus cases.
The pan-European STOXX 600 fell 0.5% by 0718 GMT after recording its first weekly fall in four on Friday.
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Travel & leisure .SXTP slumped 3.2%, with UK-based airlines and tour operators such as TUI AG ( TUIGn.DE ) ( TUIT.L ), Easyjet Plc EZL.L, British Airways-owner IAG SA ( ICAG.L ) falling between 8% and 13.5%
Europe’s biggest holiday company TUI said on Sunday it had decided to cancel all holidays to mainland Spain up to and including Sunday Aug. 9
Spanish stocks .IBEX fell 1.2%, while the Irish stocks benchmark .ISEQ dropped 1.4% after airline Ryanair ( RYA.I ) said it was impossible to say whether it might turn an annual profit due to the impact of the COVID-19 pandemic
Germany’s DAX .GDAXI was among the few gainers, helped by a 2.9% gain for software group SAP SE ( SAPG.DE ) after it announced plans to spin off and float Qualtrics, the U.S. specialist in measuring online customer sentiment
Reporting by Sruthi Shankar in Bengaluru; Editing by Saumyadeb Chakrabarty