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BA and Iberia up on deal hopes

Shares in British Airways rose yesterday on hopes its planned merger with Spanish carrier Iberia will go ahead, despite the European Union (EU) deepening its investigation into the plan.
BA, Iberia and American Airlines offered to modify their plans to share more of their lucrative trans-Atlantic routes in an effort to settle a competition dispute with the EU. BA shares closed up 3.3 per cent at 213p, its highest close since mid November, while Iberia gained 2.2 per cent to €2.25 – a closing level not seen since October.