SAS surges on Lufthansa buy-in speculation

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