Business

Carnival drags FTSE off 13-year high

by fm

21st May 2013

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1 min read

Britain's benchmark index edged off 13-year highs early on Tuesday, led by a selloff in cruise operator Carnival Corporation.

Shares in Carnival shed 14.8% as the group said it expects lower revenue due to the lower ticket pricing that it is employing to attract passengers following a string of high-profile mishaps.

It was the top faller on the FTSE 100, which opened down 0.1% at 6,747.60 points.

The index's fall was mitigated by rallies in retailers Burberry and Marks & Spencer after they reported estimate-beating results.

Shares in Burberry rose 1.6% as the group posted a 14% rise in full-year pretax profit while Marks & Spencer, up 2%, saw its profit fall, but less than analysts had predicted.