Wednesday, February 28, 2024

TUI turns negative: London investors selling?

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** TUI TUI1 shares turn negative to fall as much as 7.4% in London following an opening surge on strong earnings

** Two traders say the drop might be linked to Europe’s largest travel operator’s decision to ditch London listing in favour of Frankfurt just before an AGM vote on the issue later in the day

** The “Switch to Frankfurt is live,” says one Frankfurt trader, suggesting UK investors might be behind the selling

** By 1429 GMT, TUI down 4.9% on mid-cap FTSE 250 index (.FTMC) after earlier surging by as much as 7.8%. Stock has lost more than one third of its value in the last 12 months

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