US LCC stocks effected by economic uncertainty; oil prices weaken
US LCC stocks fell sharply in early trading on Thursday, but regained most of their ground by close of trading, with JetBlue shares slipping 1.5%, Southwest shares ending stable, and Allegiant and AirTran gaining 0.2% and 0.4%, respectively.
The market was affected by news that US weekly jobless claims last week reached their highest level in six months, adding to US recovery concerns. The benchmark crude oil for September delivery fell USD2.28 to settle at USD75.74/barrel on the New York Mercantile Exchange, reaching its lowest point in nearly a month, after peaking at USD82.47/barrel earlier in the month.
See related article: Oil falls back below USD80 on economic uncertainty, but growth expected to resume
Selected LCCs daily share price movements (% change): 12-Aug-2010