The FTSE 100 fell 0.94% to 7,021 while the DAX slipped 1.35%, following slow starts to the day on the back of England’s historic victory over Germany at Wembley.
“Investors in each of these markets clearly did not want to get out of bed, either because of hangovers or disappointment respectively”, said Russ Mould, investment director at AJ Bell.
“Healthcare and technology stocks did their best to continue the party in the UK, but it wasn’t enough to revive the FTSE, with financials, energy, real estate and miners in the red,” Mould added.
IAG, owner of British Airways, continued its poor run of form as investors appear to be concerned over the aviation industry in general. The IAG share price is now down by 18.8% over the past month.
“In Germany, the Dax was pulled down by similar sectors to the FTSE 100, with automotive-related stocks also stuck in reverse. Having shot up earlier this year as investors hoped it would be a major success in the electric vehicle space, Volkswagen was the Dax’s biggest faller on Wednesday, followed by chassis and powertrain specialist Continental,” said Mould.
FTSE 100 Top Risers
The top three risers on the FTSE 100 on Wednesday, and the only three in the green at the time of writing, are Croda (0.46%), Sainsbury (0.21%) and Smith and Nephew (0.19%).
Rolls-Royce (-3.51%), IAG (-3.35%) and Taylor Wimpey (-2.43%) are trailing the pack of the UK index during the morning session.
