Suppliers shares rally in face of swine flu, Boeing, EADS recover losses – SHARE WRAP
After recording moderate falls early in the week, as share markets grappled with the potential impact of swine flu on travel/transportation stocks, most aviation suppliers saw their share prices rally on 29-Apr-09.
Boeing gained 4.4%, more than recovering its losses the previous day, while Airbus parent, EADS, rose 2.9%, after a fall of 2.2% on 27-Apr-09.
After slumping 7.4% on 27-Apr-09, leasing company Aircastle was up 13.6%, ahead of its first quarter earnings report due on 07-May-09.
B/E Aerospace was another big winner, up 9.0% after its share price collapsed by more than 25% over the previous two days.
The full extent of the swine flu and its impact on world markets is unclear, with the WHO upgrading its pandemic alert level to phase five (of six) yesterday. Singapore's Monetary Authority commented that the swine flu has added "a new dimension to the risk outlook".
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Selected aviation suppliers' daily share price movements (% change): 29-Apr-09
Source: Centre for Asia Pacific Aviation & Yahoo! Finance