China Eastern Airlines soars in Shanghai on merger speculation
Shanghai (XFN-ASIA) - China Eastern Airlines Corp Ltd (SHA
600115; HK 0670; NYSE CEA) was sharply higher in Shanghai on speculation that
the company could be acquired by Air China Ltd (SHA 601111; HK 753).
At 10.55 am, China Eastern Airlines was up 1.32 yuan or 9.05 pct at 15.90.
Air China added 1.33 yuan or 6 pct to reach 23.29
Airline stocks have outperformed the market recently due to continued yuan appreciation and retreating oil prices.