Airlines rise on American markets

Calcutta News.Net
Wednesday 7th July, 2010

Data on demand for airline seats pushed American airline carriers sharply higher Wednesday, boosting the overall market.

Solid yield management and demand for seats prompted enhanced analysts projections on the major airlines.

Partly the boost in airline stocks was coming from a weaker U.S. dollar, which makers travel in the United States much more economical.

At the close of trading the Dow Jones Industrials were up 274.66 points or 2.82% at 10,018.28.

The Nasdaq Composite accelerated by 65.59 points or 3.13% to 2,159.47.

The Standard and Poor's 500 was up 32.21 points or 3.13% at 1,060.27.

On foreign exchange markets, late in New York Wednesday the euro had risen sharply to 1.2646.

The Australian dollar rose more than a cent to .8640. The Canadian dollar jumped to 1.0493. The Swiss franc climbed to 1.0510. The British pound was in demand, adding to recent gains to a high of 1.5196.

The Japanese yen was up slightly to 87.40.

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