INTERNATIONAL Consolidated Airlines Group (or IAG) the new post merger moniker for British Airways, has seen its shares slump more than 10 per cent since the change, down to the 150 day moving average at 255p. There is good support at 255p, 250p and even at 240p from the 200 day moving average and spread betters have been picking up shares they see as oversold. Spread Co offers a spread on International Consolidated Airlines Group of 254.9p–255.4p
Concerns over production issues following Cyclone Yasi in Queensland seem to be abating, but that didn’t stop copper hitting fresh all time highs in London during yesterday’s morning trading. Analysts remain bullish over the outlook but there’s a risk that slowing demand from China could end up favouring the profit takers. The current IG Index price for COMEX March 11 high grade copper is 45,380-45,420.
All eyes are on TUI at the moment as the situation in Egypt does not appear to be getting any better for the tourist trade. The firm has already stated that the recent trouble could impact current quarter results by up to £30m. With customer safety TUI’s highest priority, the situation may force more holidays to be ruled out or cancelled. Despite a good start to the year, the group, which includes brands Thomson and First Choice, could see further downside as the situation escalates. Capital Spreads quotes 242.8p–243.5p.
Monday sees miner BHP Billiton come out with figures. Ahead of this the share price has just managed to break above the 50 day moving average and with the moving-average-convergence-divergence chart giving a more positive indication this could be the time to take a fresh look at this stock. WorldSpreads offers a 2509p–2514p spread.