Hilton shares fall on “sell” note
It was a difficult day for travel and tourism shares yesterday as London’s equity markets fell back. The FTSE 100 index dropped 27.9 points to end the day at 5032.9, while the FTSE 250 closed 39.2 points down at 7195.2. Perhaps the biggest move came at Hilton, which fell 7.25p to 312.25p. The Guardian reports that the drop was due to the broker Citigroup Smith Barney downgrading the stock to a “sell”, with full-year figures due to be released tomorrow. Putting a target price of 290p on the shares, the firm reportedly stated: “We do not expect announcements of capital returns, asset sales or de-mergers; on fundamentals we believe the shares to be overvalued.” Alpha Airports 102.5p UP 0.5p BAA 607p DOWN 4.5p British Airways 267.5p DOWN 3.25p CNG Travel Group 97.5p DOWN 1p Carnival 3062p DOWN 51p De Vere 542p DOWN 3.75p EasyJet 226p DOWN 4.25p ebookers 319p NO CHANGE EuroDisney 10.5p UP 0.5p Eurotunnel 16.5p DOWN 1p First Choice 172.75p UP 0.75p Hilton Group 312.25p DOWN 7.25p Holidaybreak 654.5p UP 1.5p Intercontinental 674p DOWN 8.5p Lastminute.com 103.5p DOWN 3.25p MyTravel 5.75p NO CHANGE P&O 305p DOWN 1.25p Rank Group 291p DOWN 1p Ryanair 419.75p DOWN 4.125p Stagecoach 112p DOWN 1.5p Report by Tim Gillett, News From Abroad Ltd
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