Share markets were volatile today and although European shares dropped they remained on course for their 12th straight month of gains having outperformed other parts of the world in recent weeks.
British travel firm TUI Travel agreed to buy 60 mid-range Boeing jets with an option for 90 more to make its fleet more fuel-efficient. This is a big contract win for Boeing over European rival Airbus. Boeing is trading at 100$ per share on the New York Stock Exchange and has gained 43% since May 2012. Boeing is also competing with Airbus to supply British low-cost airline EasyJet with new planes.
Apparel retailer Guess forecast current-quarter sales above estimates after reporting a higher-than-expected quarterly profit, sending its shares up 10%.
HSBC Holdings hired a former head of Britain’s domestic intelligence agency to help oversee its compliance efforts after the bank was fined $1.9 billion for failings in its money laundering controls. Jonathan Evans, a former director-general of MI5, will join as a non-executive director in August, Europe’s largest bank said in a statement today.