Shares in World Fuel Services Corp traded down 4.8% on Tuesday, as the fall-out from the political turmoil in the Middle East and North Africa widens. Oil prices hit their highest point since late 2008 in trading yesterday, with West Texas Intermediate jumping more then USD5 per barrel, triggering concerns about airline profitability.
Elsewhere, a US Senate committee passed a proposal related the tax rules for hotel rooms booked online, which would insulate Orbitz, Expedia and other online booking companies from paying higher local option tourism taxes in the US. The Senate Community Affairs Committee passed the bill, which would exempt the online travel and booking companies from paying additional tax on fees they charge. Expedia's shares slipped 2.9% yesterday, while Amadeus was down 1.6%.
Selected Others daily share price movements (% change): 22-Feb-2011