* The travel and leisure sector falls by more than 4%
* Oil stocks fall amid the prospect of weak Asian demand
* Burberry dives as CEO resigns to join Ferragamo
* Nokia exceeds STOXX 600 on GS upgrade (updates at market close)
June 28 (Reuters) – European stocks ended lower on Monday, with travel stocks dragging losses amid concerns over bans on British tourists, while a surge in Asian COVID-19 infections hit prices crude oil and saw energy stocks drop by more than 2%.
The pan-European STOXX 600 index ended down 0.6%, with the travel and leisure index down 4.4% to a one-month low.
The Times reported that Germany is considering banning British travelers from traveling to the European Union, regardless of their vaccination status, due to the highly contagious and widespread Delta variant of the coronavirus.
Hong Kong also announced a ban on all passenger flights from the UK, starting this week, due to similar concerns.
International Consolidated Airlines, Easyjet, Wizz Air and Ryanair fell between 4% and 6%.
“Despite a number of popular tourist spots currently on offer to British holidaymakers thanks to the government’s updated green list, it is precarious and it won’t mean much if Germany is successful and British tourists are banned from going there. entry into the set. the EU because of concerns about the Delta variant, ”said Danni Hewson, financial analyst at AJ Bell.
The German DAX index ended down 0.3%, while blue-chip UK stocks lost 0.9%.
Energy stocks fell 2.3% as oil prices fell as a spike in Asian Delta variant infections threatened to dampen demand.
Crude markets have also been rocked by anticipation of a major OPEC + meeting this week, where the cartel could potentially increase production.
The benchmark STOXX 600 has traded below all-time highs reached just over a week ago, as global financial markets turned volatile following signals that the US Federal Reserve may begin to raise prices. interest rate earlier than expected.
Renewed concerns over the coronavirus have also kept markets at record highs.
Tech stocks rose 0.4% and were among the few gainers of the day as the Delta variant nervousness saw investors return to sectors resistant to the pandemic.
All eyes this week will be on June’s inflation figures as well as data on business activity across the eurozone.
In company news, shares of the Burberry group fell 8.7% to the low of the STOXX 600 as CEO Marco Gobbetti stepped down to take the lead of Italian luxury group Salvatore Ferragamo. Ferragamo shares fell 2.7%.
Nokia topped the STOXX 600 with a jump of 5.8%, after Goldman Sachs upgraded the stock’s rating on the potential of the wireless equipment market.
Reporting by Sagarika Jaisinghani and Ambar Warrick in Bengaluru; Editing by Shounak Dasgupta, Uttaresh.V and Jonathan Oatis