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European airline stocks mostly lower on bad weather


European airline shares defied broader market gains yesterday, as investor concerns over the poor weather and transport chaos outweighed positive sentiment elsewhere.

British Airways fell 1.9% and Lufthansa declined 0.8% as the airlines cancelled flights amid the big freeze.

In sunnier Turkey, the benchmark ISE National 100 index fell for the third day yesterday (by 1.4%), but Turkish Airlines closed 0.4% higher as it confirmed it would continue to use Istanbul Ataturk airport as a hub for expansion, due to a reduction in separation limits between aircraft using the airport.

Europe selected airlines daily share price movements (% change): 20-Dec-2010

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