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24-Dec-2010 1:34 PM

SAS surges on Lufthansa buy-in speculation

Analysis

Shares in Scandinavian carrier SAS soared 14% yesterday - the stock's biggest one day gain in eight months - on speculation reported by Bloomberg that Lufthansa is preparing to announce acquisition plans for the airline as early as 1H2011.

Lufthansa, whose shares rose 0.3% yesterday, denied the report. SAS shares have fallen 54% this year, against a 23% gain on the Stockholm index.

Elsewhere, Norwegian gained 4% and Finnair eased 0.2% yesterday.

Europe selected airlines daily share price movements (% change): 23-Dec-2010


Source: Centre for Asia Pacific Aviation, Yahoo! Finance & Reuters

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