Lonhro rebounds; 1time and Air Arabia up; Kuwair National Airways stumbles
The majority of listed African carriers’ shares were up on Monday (08-Feb-2010), as Middle East carriers, expect for Air Arabia (+1.1%) saw shares drop or remain stable.
Lonhro (+4.2%) reported the biggest rise for the day, rebounding from a drop the day prior. 1time Holdings (+1.8%) was also up, as South Africa’s FTSE/JSE Africa All Share Index rose 1.0%, ending a two-day slump in the market. Kenya Airways (+0.0%) was flat, despite Kenya’s All-Share Index (+0.1%) rising for a second consecutive day.
In the Middle East, Kuwait National Airways (-1.7%) was down, taking away some of the gains it made the day prior. Kuwait’s Stock Exchange Index (+0.7%) rose, after the central bank reduced interest rates by 0.5%, to promote economic growth.
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Selected African and Middle Eastern airlines share price movements (% change): 08-Feb-2010