STOCK WATCH

TRAVEL operator Thomas Cook slumped after analysts at Berenberg downgraded its stock to ‘sell’.

The firm has been hit by the weaker pound and increased air capacity which has made holidays more competitive than in previous years. And last week it reported falling margins, despite toasting an uptick in sales and profits.

Berenberg said: ‘The traditional tour operator business model remains structurally challenged.’ Thomas Cook fell 1.6pc, or 2p, to 118.5p.