Travel Stockwatch
UK: Airlines move backwards as MyTravel prepares to break good news
After a positive April that saw London’s equity markets make their biggest monthly gains since September 1997, the first day of May saw shares move backwards in response to poor figures from Wall Street.
After moving ahead more than 8 per cent last month, the FTSE 100 index lost 1.6 per cent of its value yesterday, moving down 45.9 points to close at 3880.1. The FTSE 250 index lost 14.4 points to end the session at 4374.9. Dealers were less than busy as many European markets were shut for the May Day holiday; just 1.8 billion shares were bought and sold by the 6pm count.
The travel sector saw many share values move backwards after a good day yesterday. British Airways lost 2p to close at 124.5p, while EasyJet also has a bad day and lost 4p to close at 185p. Ryanair fared little better and closed at 420p, down 7.5p. The online retailer Lastminute.com had another good day, gaining 2.75p to close at 98.75p.
MyTravel gained 0.25p to close at 11.25p ahead of today’s announcement that it has seen a partial recovery in the days following the war on Iraq. In early trading today, MyTravel shares leapt to 15p before settling at 13.5p – still 20 per cent up on the day. First Choice lost 0.5p to end the day at 93.5p.
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