Thomas Cook shares hit by cautious outlook

Traders in London Image copyright AFP

Shares in Thomas Cook closed down 7.7% after the firm said it was "cautious" about prospects "given the uncertain political and economic outlook".

The FTSE 250 company reported a 1% rise in first quarter revenues and a slight dip in operating losses.

It also said its holiday prices would be 9% higher this year as it aimed to sell more upmarket packages.

The benchmark FTSE 100 share index ended modestly higher, gaining 40.68 to 7,229.50 points.

On the currency markets, the pound ended 0.14% lower against the dollar to $1.2523 and was 0.2% higher against the euro at 1.1749.