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MARKET REPORTING: Airlines are under pressure amid leadership

The airlines faced an unpleasant start to the week when chaos swept the tourism industry.

British Airways and easyJet have canceled dozens of flights due to staff shortages, which has called into question plans for thousands of families.

Shares of IAG, the owner of BA, fell initially, but later rose 0.4 percent, or 0.62 pension, to 141.8 pence. However, easyJet fell 0.2 percent, or 1.2 points, to 553.8 points.

Reasoned: British Airways and easyJet canceled dozens of flights due to staff shortages, which called into question plans for thousands of families

Chaos has become a nightmare scenario for the tourism industry on the eve of Easter.

Wizz Air also experienced a drop as its stakes fell 0.1 percent, or 3 pence, to 2,860 pence, despite figures showing it carried 2.5 million passengers last month – more than five times higher than last March.

Meanwhile, Dublin-based Ryanair has warned that it lost between £ 294 million and £ 336 million in the 12 months to the end of March.

Hargreaves Lansdown analyst Suzanne Streeter said the cancellation of easyJet was “a blow to the airline, given that it is looking forward to rising bookings in the spring and summer to give it a serious wind in recovery, especially as it comes just in time for big Easter holidays. away begins’.

On British Airways, she added: “Covid’s absence will only exacerbate the operational pain of IT failures that will not go away and that have led to days of chaos at Heathrow and unpleasant consequences at other airports.

“Seeing the remaining luggage on carousels and stories of travelers waiting in line for hours does little to restore confidence in people traveling, with a new headache of delays once hopes of falling testing requirements make travel much easier. ‘

The FTSE 100 rose 0.3 percent, or 21.02 points, to 7,558.92, and the FTSE 250 rose 0.5 percent, or 111.88 points, to 21,329.89.

Stock clock – Saietta

Saietta, an international electric transmission company, has announced the creation of a pilot plant in Sunderland.

The company plans to use the site to produce heavy commercial vehicle transmissions – components that provide power to drive wheels – that were previously built in China.

Saietta also bought four motor production lines and an electronic board production line.

Shares rose 18.75 percent, or 30 pence, to 190 pence.

On the other side of the Atlantic, Twitter shares jumped 25% after Tesla boss Elon Musk, the world’s richest man, bought a 9.2% stake. Tesla shares jumped more than 4 percent.

There were builders on the march. Persimmon, one of the largest melters of the Blue Chips Index, saw its shares rise 2.9 percent, or 62 pensions, to 2,210 pence. Barratt Development rose 3 percent, or 15.4 pence, to 533.6 pence, Taylor Wimpy rose 2.7 percent, or 3.55 pence, to 134.8 pence, and Berkeley Group rose 3.2 percent. or 20 pence, to 3848 pence.

This was prompted by speculation that ministers could ease the demands of builders to pay into a £ 4bn facing reconstruction fund.

A spokesman for the Federation of Housing Builders said: “We continue to work constructively with the government together with our members to advance discussions and find a proportionate solution for the entire industry.”

Peel Hunt analyst Clyde Lewis told the Mail that the housing sector has suffered quite badly to date.

He said: “Too many people in the UK unfortunately do not want houses to be built where they live. If you have, you are on the stairs and in the game.

“If you don’t have it, it’s hard because the choices aren’t enough and housing prices are rising faster than they should have.

This is a deficit that has been going on for 25-30 years, and the government is slowly waking up to it. ”

Figures last week showed that house prices have been growing at the fastest pace in 18 years. Lewis said that “gin cannot be returned to the bottle in terms of falling house prices.”

Real estate listing company Rightmove also saw its shares rise 3.5 percent, or 22 pence, to 657 pence. Victorian plumbing rose 12.8 percent, or 6.3 points, to 55.7 pensions, and Boohoo rose 7.7 percent, or 7.02 points, to 98.82 pence.

Oil prices rose more than 3.5 percent, and Brent crude reached $ 108 a barrel as more countries turned to their reserves. BP was down 0.4 percent, or 1.35 points, to 377.6 points, and Shell was down 0.2 percent, or 3.5 points, to 2,116 points.

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MARKET REPORTING: Airlines are under pressure amid leadership

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