Supply chain bottlenecks hit manufacturers; travel shares lift FTSE 100 – business live

Supply chain bottlenecks hit manufacturers; travel shares lift FTSE 100 – business live

In the City, the blue-chip FTSE 100 index has jumped around 0.85% in early trading, with travel companies among the risers. The FTSE 100 gained around 60 points at the open to reach 7030 points, as traders returned to their desks after the Bank Holiday weekend. That’s close to the pandemic highs hit last month. Optimism about economic reopening plans seem to be lifting the market. Airline group IAG, which owns British Airways, is the top riser, up 3.8%, while holiday firm TUI has jumped 5.4% (to the top of the smaller FTSE 250 index). Budget airline easyJet has gained 3.5%. Whitbread, which hotels in the UK (Premier Inn) and in Germany has gained 2.4%. Yesterday, the EU said it would reopen to holidaymakers from countries with low Covid infection rates, such as the UK, and to anyone who has been fully vaccinated, by the start of June - in a bid to restart its tourism industry. However, it’s understood the UK could give the green light to travel to fewer than 10 countries (without needing to quarantine on your …
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