Shares hit by Al-Qaeda fears

12 March 2004

MADRID – Airlines and hotel companies showed the biggest falls on the Spanish stock exchange Friday in the wake of claims the the Madrid bomb attacks were the work of Al-Qaeda.

In some cases, companies showed decreases of up to five percent on their share prices.

The possibility that the Madrid attacks were carried out by Al-Qaeda has reawakened the same fears which sent the markets plummeting after the 11 September atrocities in the United States.

Iberia shares fell 4.2 percent, Lufthansa by 1.97 percent, British Airways by 1.77 percent and Air France by 2.03 percent.
 
Aircraft manufacturers Boeing and EADS showed share price falls of 3.79 percent and 2.21 percent respectively.

The travel company Amadeus saw its share prices fall by 1.68 percent on the Spanish stock exhange.

Shares in the large hotel chains Sol Melia fell 5.35 percent and NH by 1.94 percent.

The hotel chain Accord lost 2.47 percent of its share value while the American cruise company Carnaval saw a 2.05 percent drop in its shares.

The Spanish stock exchange showed the biggest fall among the European markets. At 2pm Friday, shares had dropped by 1.39 percent.

There were similar falls on the London Stock Exchange (0.18 percent,) Paris (0.39 percent), Frankfurt (0.73) and Milan (0.95 percent).

[Copyright EFE with Expatica]

Subject: Spanish news