The majority of Middle East and African carriers’ shares were down on Wednesday (19-May-2010) as they followed global markets lower on Germany’s announcement of a ban on naked short-selling of particular financial instruments. The fall in airline shares was despite another 1.2% decline in oil prices, to USD69.87.
Lonrho (-2.5%) declined, despite a 12.5% climb the day prior, on news it has taken full ownership of African food supplier, Rollex.
Kenya Airways (+3.8%) was the only gainer of the day, and one of the day’s most active gainers on the Nairobi Stock Exchange (NSE), which gained 1.0 points for the session. Independent analyst, Aly Khan Satchu, stated the market is expected to gain this week on banks’ 1Q2010 earnings.
The Centre for Asia Pacific Aviation (CAPA) has launched a unique new strategic business information service covering one of the world’s most exciting emerging aviation markets. Middle East-Africa Airline Daily is an efficient morning briefing on airline developments from both regions. Covering fleets, routes, financials, traffic, bilateral agreements, alliances, financing, ownership, along with analysis of all significant developments, it is your one-stop shop to aviation news from Africa and the Middle East – and best of all it’s free for a limited time. Sign-up today!
Selected African and Middle Eastern airlines share price movements (% change): 19-May-2010
Want more analysis like this? CAPA Membership gives you access to all news and analysis on the site, along with access to many areas of our comprehensive databases and toolsets.
Find out more and take a free trial.