Europe LCC shares weaker, reflecting general market conditions: LCC share wrap

Shares worldwide were generally weaker yesterday, with European shares sliding by the most in more than a month, after the US Federal Reserve stated the pace of economic recovery is likely to be “more modest” than forecast.

National benchmark indexes declined in all 18 western European markets, with France’s CAC 40 decreasing 2.7% and Germany’s DAX 2.1% weaker. The UK’s FTSE 100 retreated 2.4% as consumer confidence fell and the Bank of England reduced its growth forecast.

European airline shares, meanwhile, fell for another day on Wednesday (11-Aug-2010), led by Vueling (-5.7%), easyJet (-4.2%) and Ryanair (-3.7%), with Norwegian and Air Berlin also weaker. Conversely, Dart Group shares increased 0.4% and Cimber Sterling shares gained 4.4%.

Selected LCCs daily share price movements (% change): 11-Aug-2010