Rob HorganTOURISM businesses linked to Spain are taking a hit, following Monday’s news that a medical worker had contracted Ebola in Spain.
European travel stocks continue to plunge, 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 – 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% while Inter Continental Hotels saw shares sink 5% as investors fear the wider travel industry could suffer.
Meanwhile French conglomerate Bollore – which has a significant logistics business in Africa – saw its shares drop by a huge 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.