Eurotunnel shares rise on restructure plan
It was a disappointing session for travel and tourism shares yesterday as London’s main equity index fell to its lowest point for the last two months.
The FTSE 100 index dropped to 18.3 points to close at 4900.7, while the broader-based FTSE 250 lost 36.6 points to end the day at 7083.6.
Shares in Eurotunnel managed to gain 1p to close at 16.5p following reports that it is to ask its bankers to renegotiate its debts.
The Independent reports that the loss-making operator of the Channel Tunnel risks going under by the end of the year, when it will start to pay £320 million a year in interest, unless it is allowed to restructure the company and carry out what the newspaper predicts will the “the biggest and most complicated debt-for-equity swap in more than a decade”.
Alpha Airports 95p DOWN 1.5p
Avis Europe 63.5p DOWN 0.5p
BAA 585p NO CHANGE
British Airways 263.25p DOWN 1.25p
CNG Travel Group 70p NO CHANGE
Carnival 2923p DOWN 19p
CenterParcs 60.5p DOWN 4p
De Vere 533p NO CHANGE
EasyJet 208.25p DOWN 1.5p
ebookers 319.5p NO CHANGE
EuroDisney 9.5p NO CHANGE
Eurotunnel 16.5p UP 1p
First Choice 171.5p DOWN 2.5p
Hilton Group 297.5p DOWN 0.5p
Holidaybreak 643p DOWN 6p
Intercontinental 617p UP 1p
Lastminute.com 116p DOWN 0.75p
MyTravel 5.5p DOWN 0.25p
P&O 289.5p UP 1.5p
Rank Group 272p DOWN 0.5p
Ryanair 408.5p DOWN 9p
Stagecoach 107.25p DOWN 0.25p
Report by Tim Gillett, News From Abroad Ltd
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