TOURISM businesses linked to Spain are taking a hit, followingย Monday’s news that a medical worker had contracted Ebola in Spain.
European travel stocks continue toย plunge,ย as investors begin to worry that the deadly virus could spread across the continent.
Shares in IAG – which own British Airways, Spanish carrier Iberia and cruise ship operator Carnival –ย have dropped by 8.5% over the last two days.
Industry experts are predicting further drops as people begin to ‘panic sell’.
Douglass McNeill, investment director at Charles Stanley Direct, said: “If there is a loss of confidence in the safety of being in Spain, then that will be a big issue.”
Stocks in Melia hotels dropped by 2% whileย Inter Continental Hotels saw shares sinkย 5% as investors fear the wider travel industry could suffer.
Meanwhileย French conglomerate Bollore –ย which has a significant logistics business in Africa ย – saw its shares drop by aย hugeย 20% over the past two days.
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Hardly surprising but pointless. Ebola will come and get you wherever you are. This thing doesn’t recognise borders.