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4-Traders Homepage  >  Equities  >  Xetra  >  Air Berlin Plc    AB1   GB00B128C026

AIR BERLIN PLC (AB1)
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EasyJet, IAG boost FTSE as airlines circle over Air Berlin carcass

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08/15/2017 | 06:04pm CET
FILE PHOTO: A man shelters under an umbrella as he walks past the London Stock Exchange

A late boost from airlines helped FTSE 100 <.FTSE> gain 0.4 percent on Tuesday, after inflation data earlier eased investors' fears over a squeeze on consumer spending.

EasyJet (>> EasyJet) jumped 4.5 percent to lead the FTSE after Air Berlin (>> Air Berlin Plc) filed for insolvency and a source said the orange budget airline was in talks to snatch up some of the failed airline's assets.

British Airways owner IAG (>> International Consolidated Airlines Group) also jumped 2.9 percent.

Consumer price inflation unexpectedly held steady in July, data showed on Tuesday, denting the pound and boosting blue-chips, with investors looking ahead to Wednesday's wage data for a better read on the health of the labour market.

"Even if inflation had got stronger, I don't think that would be enough to make the Bank of England raise rates," said Mike Bell, global market strategist at JP Morgan Asset Management.

"The [wage growth] numbers tomorrow are going to be much more important," he said.

Among gainers, defence and security firm BAE Systems (>> BAE Systems) rose 2.3 percent after Goldman Sachs added the stock to its "conviction list" and reiterated its "buy" rating.

"We expect programme growth, as well as a new Typhoon (combat aircraft) order from Saudi Arabia, to cement the outlook for 2019/2020," it said, adding that BAE had underperformed the FTSE 100 recently and was now trading at a wider-than-usual discount to U.S. peers.

Meanwhile Next (>> Next) fell 3.1 percent after Berenberg downgraded its rating on the retailer to 'sell' from 'hold', citing its large retail outlet footprint as a brake on its ability to invest in online services and home delivery.

"While it was quick to recognise the online opportunity, it has failed to fully adapt its business model, instead focussing on short-term cash flow and profitability," said Berenberg analysts.

They pointed to similarities between Next and Kodak, which had a dramatic fall from grace ending in insolvency when it failed to keep pace with innovations in the photography market.

Miners Randgold Resources (>> Randgold Resources) and Fresnillo (>> Fresnillo) led losers, down 3 to 3.2 percent as weaker Chinese housing sector data weighed on commodities stocks across the market.

Oil firms Petrofac (>> Petrofac) and Tullow Oil (>> Tullow Oil) held mid-caps back, down around 4 percent each after crude prices tumbled overnight.

Miners Centamin and Acacia Mining also weighed on the index.

Although Tuesday's figures suggested inflation was losing steam, it remained above the Bank of England's target level.

"When it comes to stocks, the impact of inflation is not straightforward," said Kathleen Brooks, analyst at City Index.

"Even though the UK has above-target inflation, growth companies are benefiting from low interest rates, which is why the UK's AIM market has had a stonking year."

(Reporting by Helen Reid; Editing by Kevin Liffey)

By Helen Reid

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More news
News from SeekingAlpha
09/25 WALL STREET BREAKFAST : Elections And Currencies
09/25 Lufthansa eyes Air Berlin assets
09/03 Kamakura Reports Stable Corporate Credit Quality In August
08/15 Air Berlin files for insolvency
07/28 Still Upside For Lufthansa?
Financials (€)
Sales 2017 3 114 M
EBIT 2017 -179 M
Net income 2017 -
Debt 2017 1 498 M
Yield 2017 -
P/E ratio 2017 -
P/E ratio 2018
EV / Sales 2017 0,48x
EV / Sales 2018 0,46x
Capitalization 3,04 M
Chart AIR BERLIN PLC
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Air Berlin Plc Technical Analysis Chart | AB1 | GB00B128C026 | 4-Traders
Technical analysis trends AIR BERLIN PLC
Short TermMid-TermLong Term
TrendsBearishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus UNDERPERFORM
Number of Analysts 1
Average target price 0,01 €
Spread / Average Target -62%
EPS Revisions
Managers
NameTitle
Thomas Winkelmann Chief Executive Officer & Executive Director
Gerd Becht Chairman
Oliver Iffert Chief Operating Officer
Courtelis Dimitri Chief Financial Officer
Joachim Edmund Hunold Co-Vice Chairman
Sector and Competitors
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UNITED CONTINENTAL HOLDINGS INC-12.83%18 673
INTERNATIONAL CONSOLIDATED AIRLINES GROUP43.57%17 439