UK: Travel shares move ahead as markets look forward to end of hostilities
London’s equity markets had yet another positive day yesterday, rising for the fifth day in succession on hopes that the war in Iraq will come to a swift end.
The benchmark FTSE 100 index of leading shares rose by some 3.2 per cent, gaining 121.4 points to end the day at 3935.8, while the FTSE 250 index put on 2.5 per cent, closing the day at 4,161.9, 101.1 points higher. Traders were busier than in recent days and traded 2.8 billion shares before the 6pm count.
British Airways led the way among travel shares, which generally had a good day to match the rest of the market. Shares in the flag carrier rose 8.5p to close at 124.5p, their highest value since the outbreak of hostilities in Iraq.
No-frills carriers also had a good session. EasyJet put on 10.5p to close at 237p after revealing “robust” bookings in the 12 months to 31 March, while its rival Ryanair put on 14.5p to end the day at 441p. The travel giant MyTravel gained 0.625p to move up to 12.25p, while First Choice also had a positive session and added 3.5p to close at 84p.
