Thomas Cook shares sink lower

Thomas Cook shares sink lower

Thomas Cook’s share price dipped lower yesterday following its 28% fall on Tuesday after the company issued a profits warning.

The group’s share value fell close to another 4% on the London Stock Exchange to just above 84p when trading finished.

The latest fall took the market value of Thomas Cook to £754 million. The group was valued at more than £1.6 billion just over a year ago in June 2010 when it dropped out of the FTSE 100 index. As recently as April last year, Thomas Cook shares were priced at £2.70.

Yesterday’s decline came despite a small rise in the FTSE 250 index on which Thomas Cook is listed.

City concern about the state of the travel sector following Tuesday’s profit warning also produced a 1.3% fall in the share price of Tui Travel, whose value has fallen 12% this week. However, Tui Travel remains valued at £2.29 billion.

Shares in easyJet also fell by a little over 1% after founder Sir Stelios Haji-Ioannou renewed hostilities with the carrier’s board.

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