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FTSE gains as Thomas Cook collapse buoys blue-chip rivals

Published 23/09/2019, 08:33
© Reuters.  FTSE gains as Thomas Cook collapse buoys blue-chip rivals
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* FTSE 100 up 0.2%, FTSE 250 down 0.1%

* Thomas Cook collapse boosts shares in rivals

* AstraZeneca biggest boost on FTSE 100

Sept 23 (Reuters) - London's FTSE 100 index inched higher on

Monday, helped by gains for several rival tour operators and

airlines after the collapse of Thomas Cook and positive

approvals news for drugmaker AstraZeneca.

The FTSE 100 .FTSE inched up by 0.2% by 0712 GMT, while

the FTSE 250 index of midcaps .FTMC edged 0.1% lower,

outperforming losses of around a third of a percent for Europe's

broad STOXX index .STOXX

Tour operator TUI TUIT.L , airlines Ryanair RYA.L ,

British Airways owner IAG ICAG.L and easyJet EZJ.L jumped

between 4% and 8% as traders bet the Thomas Cook bankruptcy

would cut some overcapacity in the market.

AstraZeneca rose around 1.5% after its diabetes treatment

Qtrilmet moved a step closer to European Union approval on

Friday.

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