US carriers gain after US-Iran preliminary deal
BUZZ-US carriers gain after US-Iran preliminary deal Updates
** U.S. airline stocks rise after a preliminary deal between Washington and Tehran to end their conflict and reopen Strait of Hormuz sent oil prices tumbling to a 3-month low
** Both Brent crude futures and U.S. West Texas Intermediate fall to their lowest levels since March 10, after declining more than 3% on Friday O/R
** Shares of American Airlines AAL.O, Delta Air Lines DAL.N and Southwest Airlines LUV.N rise between 4% and 5%
** United Airlines UAL.O adds 7%, Alaska Air ALK.N up ~8% and Frontier Airlines ULCC.O jumps 11%
** Including session gains, the Dow Jones U.S. airlines sub-index .DJUSAR up ~12% YTD
** European airlines also soar, lifting STOXX Travel and Leisure index .SXTP by 3%
(Reporting by Rashika Singh and Aatreyee Dasgupta)
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