FTSE 100 index opens down after dovish ECB decision, led lower on tourism stocks

James Nickerson
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This November 27, 2009,  photo shows the
Tourism stocks slumped as the FTSE opened this morning (Source: Getty)

The FTSE 100 index opened lower today, still digesting the more-dovish-than-expected decisions by the European Central Bank that left markets disappointed.

The UK's top blue-chip index opened 0.45 per cent down at 6,248 points.

The FTSE 100 was led lower by Whitbread, which fell 2.51 per cent to 4,587.5p per share, after it bucked yesterday's trend by rising. The Costa owner was one of just four companies to make gains yesterday on a subdued FTSE 100.

Read more: FTSE 100 closes down on dovish ECB decision

Whitbread, which also owns hotels, was one of many tourism stocks to falter as the market opened. Carnival, InterContinental Hotels and TUI were all among the biggest fallers.

Carnival opened 2.07 per cent down at 3,421p per share, while InterContinental Hotels' share price fell 1.88 per cent to 2,558p and TUI dropped 0.89 per cent to 1,119.5p per share.

Read more: European markets down after ECB dovishly cuts deposit rate

It wasn't all doom and gloom, however, as mining stocks rose. Glencore opened 1.38 per cent up at 91.5p per share, while Anglo American and Antofagasta opened 1.81 per cent up to 393.5p per share and 0.8 per cent up to 505.25p per share respectively.

Meanwhile Fresnillo rose 0.56 per cent to 713.5p per share and Rio Tinto was up 0.43 per cent at 2,122.75p per share.

The biggest riser on the FTSE 100 was Berkeley Group, which today raised its dividend target from £13 per share by 2021 to £16.43, despite a 3.8 per cent decline in pre-tax profits in the six months to October.

On the FTSE 350, EasyJet also fell 0.61 per cent, despite posting results showing passenger numbers rising 10 per cent last month. However, it had a higher rate of flight cancellations than usual during the period.

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