UK: Travel stocks move ahead during a positive day on the markets
For the second day in succession shares in travel companies moved forwards, reflecting the general mood on London’s equity markets.
The FTSE 100 index gained nearly two per cent in value and put on 68.6 points to close at 3753.4, with the FTSE 250 making similar progress and gaining 1.4 per cent in value. Telecoms stocks led the way, with both BT and Cable and Wireless making significant gains, while signs of progress by the US-led forces in Iraq benefited the market as a whole.
In the travel sector shares reacted well to lower crude oil prices, with British Airways and Easyjet making solid gains. British Airways pushed forward 9p to close at 114.5p – a jump of 8.5 per cent on the day – while Easyjet put on 11.5p to close at 226.25p.Ryanair also had a positive session and gained 2p for a 428p finish.
First Choice added 2.5p to close at 83.5p, while MyTravel moved up 0.75p to 10.75p. Lastminute.com put on 2.25p to close at 87.25p, roughly half way between its high- and low-points for the last 12 months. The hotel chain Hilton Group also had a positive session and saw its shares gain 7.5p in value for a closing price of 145.5p.
