Source - SMW
UK stocks fell sharply on Monday following a rout on Wall Street triggered by concerns that global inflation was stirring and interest rates would rise.

At 0859, the benchmark FTSE 100 index was down 85.37 points, or 1.1%, at 7,358.06.

Ryanair fell 3.2% after the budget carrier warned that the industry's outlook for summer ticket prices was too optimistic, though the company's third-quarter profit exceeded market expectations. 

The gloomy outlook sent shares in rival easyJet down 2.4%. Wizz Air Holdings dropped 2.2% after the Hungarian-based carrier said load factors eased back in January.

Randgold Resources posted a 14% rise in annual profit after exceeding its production targets. The miner's shares pushed 0.1% higher.

Cineworld plunged 57% after the UK cinema chain confirmed that it still intended to complete a planned acquisition of US counterpart Regal Entertainment Group. The acquisition will be partly funded by a discounted £1.7bn share issue.

Oil-field services group Petrofac said an investigation into the company by the UK Serious Fraud Office would continue to involve interviews with directors of the company, including its chairman, as well as employees. Its shares slid 3% on the news.

Electronics and automation company Electrocomponents gained 1.8% after its underlying revenue grew by 14% in the four months through January and it forecast flat gross margins for the year.

IMImobile, a cloud communications software and solutions provider, announced a partnership agreement with KCOM, a provider of communications and IT services in the UK. Its shares were unchanged.