p19 pink oct24 21/10/08 18:53 Page 19
ttglive.com
city & finance news
Big two’s stock yo-yo to mixed messages
Mark Lewis.
Tui Travel and Thomas Cook share prices
TUI Travel and Thomas Cook shares had a rocky
275
ride last week on the back of what analysts said
Tui share price
were confusing messages coming from their
258
250
respective majority shareholders in Germany.
250 Thomas Cook
share price
Tui Travel shares dropped 26% on October 16,
in response to news that its German majority
225
shareholder, Tui AG, would not seek to buy up the
rest of its stock, contrary to predictions.
Thomas Cook’s shares also sank, shedding
200
23% of their value before rallying the next day.
187
189
194
198 199 194*
Analysts said the behaviour of Cook’s majority
175
German shareholder, Arcandor, had created
160
investor uncertainty. The company has been
145 164
164*
musing over the past few weeks about whether
150
to divest its 53% stake in Thomas Cook.
Oct 14 Oct 15 Oct 16 Oct 17 Oct 20 Oct 21
Its latest announcement was that it would
Source: Google Finance *3pm share price
maintain its stake, following a refinancing deal Tui AG’s behaviour proved equally changeable. Tim Amskill, an analyst at Dresdner Kleinwort,
which had put it in stronger financial health. On Monday it speculated about buying the said the pair’s share price fluctuations did not
But one analyst, Joseph Thomas from Investic 49% stake in Tui Travel it didn’t already own, reflect any concerns about the businesses.
Travel, said: “There is no doubt that Arcandor’s then indicated two days later that it would not But he criticised the behaviour of the German
intentions towards the stock has been make a bid in the short term – prompting shares parent groups, adding: “They have been advised
communicated erratically.” to fall sharply. incredibly badly.”
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