BA shares fall on Iberia bid rumours
Travel and tourism shares had a difficult session yesterday as London’s equity markets stagnated.
The FTSE 100 index dropped 7.3 points to end the day at 4558, while the FTSE 250 added 15.5 points to close at 6233. The biggest news of the day was at British Airways, which lost 7.5p to close at 228.75p after it sold its stake in Qantas.
Several commentators are speculating that the carrier will use the £425 million it will receive for the sale of the shares to merge with another carrier – Iberia, to be specific.
According to The Independent newspaper, senior sources have stated that a merger is “not imminent”, while chief executive Rod Eddington is quoted as saying: “Being a minority shareholder in someone else’s company is pointless unless it is part of the journey towards something bigger.”
BA already owns nine per cent of the Spanish carrier.
Alpha Airports 86.5p NO CHANGE
BAA 563p DOWN 2.5p
British Airways 228.75p DOWN 7.25p
Carnival 2749p DOWN 1p
De Vere 425.5p DOWN 2.25p
EasyJet 151.75p UP 2p
ebookers 184.75p UP 6.25p
EuroDisney 18p NO CHANGE
Eurotunnel 19p UP 0.25p
First Choice 128.25p UP 0.5p
Hilton Group 268p DOWN 6.5p
Holidaybreak 520p UP 15p
Intercontinental 579p DOWN 3p
Lastminute.com 123.5p UP 0.5p
MyTravel 5.5p UP 0.125p
P&O 241.75p DOWN 1.75p
Rank Group 279.5p DOWN 3.75p
Ryanair 293.21p DOWN 3.23p
Stagecoach 88p UP 0.25p
TBI 67.75p NO CHANGE
Report by Tim Gillett, News From Abroad LtdTravel and tourism shares had a difficult session yesterday as London’s equity markets stagnated.
The FTSE 100 index dropped 7.3 points to end the day at 4558, while the FTSE 250 added 15.5 points to close at 6233. The biggest news of the day was at British Airways, which lost 7.5p to close at 228.75p after it sold its stake in Qantas.
Several commentators are speculating that the carrier will use the £425 million it will receive for the sale of the shares to merge with another carrier – Iberia, to be specific.
According to The Independent newspaper, senior sources have stated that a merger is “not imminent”, while chief executive Rod Eddington is quoted as saying: “Being a minority shareholder in someone else’s company is pointless unless it is part of the journey towards something bigger.”
BA already owns nine per cent of the Spanish carrier.
Alpha Airports 86.5p NO CHANGE
BAA 563p DOWN 2.5p
British Airways 228.75p DOWN 7.25p
Carnival 2749p DOWN 1p
De Vere 425.5p DOWN 2.25p
EasyJet 151.75p UP 2p
ebookers 184.75p UP 6.25p
EuroDisney 18p NO CHANGE
Eurotunnel 19p UP 0.25p
First Choice 128.25p UP 0.5p
Hilton Group 268p DOWN 6.5p
Holidaybreak 520p UP 15p
Intercontinental 579p DOWN 3p
Lastminute.com 123.5p UP 0.5p
MyTravel 5.5p UP 0.125p
P&O 241.75p DOWN 1.75p
Rank Group 279.5p DOWN 3.75p
Ryanair 293.21p DOWN 3.23p
Stagecoach 88p UP 0.25p
TBI 67.75p NO CHANGE
Report by Tim Gillett, News From Abroad Ltd
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