UK: Mixed fortunes for travel shares as dealers indulge in profit-taking
It was a mixed day for the travel sector on London’s equity markets yesterday, on a day that saw profit takers send the main indices into reverse mode.
The benchmark FTSE 100 index lost 1.6 per cent of its value, falling 64 points to close at 3928.9, while the broader-based FTSE 250 lost 44.8 points and ended the day at 4514.8. Media shares took a particularly bad hit, with falls of more than five per cent for some stocks as market-makers banked profits of the previous few days. Dealers were busy, with 2.8 billion shares traded by the 6pm count.
In the travel sector the best performer yesterday was EasyJet, which added 6.25p to end the session at 202.75p. Its no-frills rival Ryanair also had a positive session and added 8p for a closing price of 447p. British Airways, for its part, lost 7.75p for a 136.25p finish.
Troubled travel giant MyTravel dropped three quarters of a penny to close at 17p, while First Choice lost 2p for a closing price of 97.5p. The online retailer Lastminute.com added 2.25p for a 122.75p finish.
