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Tui Cross-Asset Positive Moves; Good For Budget Airlines

CONSUMER CYCLICALS

Tui (TUI1 GY) equity up this morning on positive results, CDS is best performer in HY world on our screens right now.


  • AGM started at 1000 so news on possible UK delisting should be imminent. Sure some headlines will claim “end of LSE” but notable that Unilever and Shell both delisted from continental Europe exchanges and unified in London in the recent past.
  • Tui not a meaningful credit name but good lateral to the budget airlines, easyJet (EZJ LN) is up in a flat market this morning, Ryanair (RYA ID) largely unmoved.

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