Take-off for lastminute.com shares
There were mainly downward movements for travel and tourism shares yesterday as London’s equity markets gained ground. The FTSE 100 index added 32.5 points to end the day at 4735.7, while the FTSE 250 moved ahead 16.7 points to close at 6594.1. The biggest move was at lastminute.com, which added 10.25p to close at 113.5p after recent weakness. The Guardian states: “Hedge funds decided to close their short positions [on lastminute.com] on the grounds that if a bid for ebookers, 2p firmer at 312p, does materialise then lastminute.com will be the last man standing in the European online travel market. Moreover, if ebookers is taken out at the rumoured price of 320p-330p, lastminute will look cheap.” Alpha Airports 93p NO CHANGE BAA 587.5p UP 5.5p British Airways 226p UP 4p Carnival 2930p UP 6p De Vere 436p DOWN 2.75p EasyJet 184p DOWN 2.25p ebookers 312p UP 2p EuroDisney 18p NO CHANGE Eurotunnel 17.75p DOWN 0.25p First Choice 135.5p DOWN 2.25p Hilton Group 257.5p DOWN 0.75p Holidaybreak 532p DOWN 26p Intercontinental 671p UP 4.5p Lastminute.com 113.5p UP 10.75p MyTravel 5p DOWN 0.25p P&O 301p NO CHANGE Rank Group 303.75p UP 0.25p Ryanair 365.77p UP 16.03p Stagecoach 95.25p DOWN 0.25p TBI 92.25p UP 0.5p Report by Tim Gillett, News From Abroad Ltd
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