TUI shares take off on hopes of early end to Iraq war

FRANKFURT (AFP) Apr 07, 2003
Shares in TUI, the world's leading travel and tourism group, soared more than 14 percent in morning trade on the stock exchange here on Monday on investor hopes for an early end to the Iraq war, traders said.

TUI shares shot up to an intraday high of 11.20 euros, a gain of 1.46 euros or 14.9 percent from the closing price on Friday.

They subsequently fell back to show a 10.37 percent at 10.75 euros.

"People are buying on the hope that the war in Iraq will be over in two weeks," said one trader.

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