Ba Is Worst Plunger On Footsie After Deutsche Drops Rating to Hold ; Market Round-Up

Summary

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SHARES in British Airways ran into a spot of turbulence this morning, plunging more than 2% which made it the biggest faller among blue chips.

Deutsche Bank has dropped its rating on the shares from buy to hold and set a 12-month target of 175p. They responded to the move with a fall of 4.9p to 204.9. The national carrier faces an uncertain future as it confronts the worst recession on record. Efforts by BA to tackle the slump also appear to be running into trouble with the EU. Its proposed tie-up with Spain's Iberia and American Airlines may be seen as anti-competitive and it could be forced to give up valuable take-off and landing slots in order to appease the European regulatory conditions.

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Ba Is Worst Plunger On Footsie After Deutsche Drops Rating to Hold ; Market Round-Up

Leading shares generally posted modest gains in thin trading in the wake of last week's GDP showing the UK economy remains firmly in recession. The FTSE ...

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