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Thomas Cook leads travel groups lower after Brussels explosions

Discussion in 'Market News' started by Lily, Mar 22, 2016.

  1. Lily

    Lily Forum Member

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    Holiday companies and airlines lower on news of events in Belgium

    The explosions in Brussels have sent travel companies and businesses dependent on tourists and consumer confidence all sharply lower.

    Thomas Cook had already warned in its results statement - which showed - that summer bookings were down 2% on the same time last year as holidaymakers worried about growing risks. It said:

    No surprise to see European airlines and travel shares being offloaded this morning while gold and the yen benefit from fresh safe haven seeking...Investors will be fearful of the knock-on to European traveller sentiment which was clearly dented in the wake of the Parisian attacks last November (as well as those in Tunisia and Egypt)...

    It’s always a sad day when terrorism has to be the driver to kick markets from their state of calm. It’s also a sign of times when the market response is - in relative terms - so muted. Investors have had to develop a thick skin for such horrific events over the years and their encouraging defiance may again result in near-term recovery for the stocks affected.

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