Rumour of Lastminute/BT deal and TUI takeover bid
Travel and tourism shares suffered once again yesterday as London’s equity markets marked time.
The FTSE 100 index gained just 2.6 points to end the day at 4415.7, while the FTSE 250 dropped 5.8 points to close at 6017.7.
Two significant moves were at British Airways and Lastminute.com. The Guardian reports that the flag-carrier lost 6.5p to 224.75p on more fears that oil prices are set to rise fast, while lastminute.com gained 2p to 133p on talk of a deal with BT.
The rumoured deal would allow lastminute.com to launch a restaurant booking system that will let the company “widen its product offering beyond the competitive travel market”.
Meanwhile, the FT reports that the City institution Morgan Stanley has taken a 10 per cent share in the German group TUI. The group’s share price has risen some 10 per cent in recent weeks, and while TUI chief executive Michael Frenzen says a takeover bid is a possibility, he reportedly denied he was “deliberately fuelling takeover speculation”.
Alpha Airports 84p NO CHANGE
BAA 556.5p DOWN 3.5p
British Airways 224.25p DOWN 6.5p
Carnival 2648p DOWN 52p
De Vere 427.75p DOWN 3.25p
EasyJet 146.75p DOWN 1.25p
ebookers 141p UP 1p
EuroDisney 22.5p NO CHANGE
Eurotunnel 18p DOWN 0.75p
First Choice 124.75p UP 0.75p
Hilton Group 261.25p UP 0.5p
Holidaybreak 481.5p DOWN 0.5p
Intercontinental 587.5p UP 3p
Lastminute.com 133p UP 2p
MyTravel 7p UP 0.375p
P&O 220p DOWN 3.25p
Rank Group 295p DOWN 0.75p
Ryanair 291p DOWN 6.625p
Stagecoach 86.75p DOWN 1.25p
TBI 65.5p DOWN 2p
Report by Tim Gillett, News From Abroad
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