This report is not a personal recommendation and does not take into account your personal circumstances or appetite for risk.
16 November 2015
It’s no surprise to see the UK Index travel companies footing the flagship UK Index index this morning after such horrific attacks on the French capital this weekend. While the likes of IAG, CCL, TUI and EZJ have dropped this morning on an understandable perception of reduced tourism and travellers electing to stay at home, we note that many of the share prices have fallen from near recent highs. This implies a recovery in sentiment (both shares and globe-trotters) after the recent Egyptian plane disaster, the June attacks in Tunisia and of course those on newspaper Charlie Hebdo in Paris earlier this year. While this latest event is an unpleasant reminder of the threats of the 21st Century, we can’t help but salute the sector’s resilience and ability to recover, mirroring that of the great cities that have unfortunately been targeted over the last 15 years.
Mike van Dulken, Head of Research
This research is produced by Accendo Markets Limited. Research produced and disseminated by Accendo Markets is classified as non-independent research, and is therefore a marketing communication. This investment research has not been prepared in accordance with legal requirements designed to promote its independence and it is not subject to the prohibition on dealing ahead of the dissemination of investment research. This research does not constitute a personal recommendation or offer to enter into a transaction or an investment, and is produced and distributed for information purposes only.
Accendo Markets considers opinions and information contained within the research to be valid when published, and gives no warranty as to the investments referred to in this material. The income from the investments referred to may go down as well as up, and investors may realise losses on investments. The past performance of a particular investment is not necessarily a guide to its future performance. Prepared by Michael van Dulken, Head of Research
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