SAN FRANCISCO (AFX) - Continental Airlines led an advance in the airline group Wednesday, rising as much as 4% after the carrier posted a surge in December traffic.
The Amex Airline Index , buoyed by a downturn in oil prices, added 2.1% to 54.91 points, bouncing back from the prior session's decline with every issue moving higher.
Crude oil futures fell below $63 a barrel in overnight trading in New York after Russia resumed natural-gas exports to Europe through Ukraine.
At last check, Continental added 68 cents to $21.84 and notched a new 52-week high after the Houston company turned in a 13.1% increase in traffic last month.
AMR Corp. , parent of American Airlines, joined Continental at the top of the advancers list, up 3% at $22.49.
Other notable advancers included ExpressJet Holdings , AirTran Holdings and Alaska Air Group , all of which gained almost 2%.
This story was supplied by MarketWatch. For further information see www.marketwatch.com.
For more information and to contact AFX: www.afxnews.com and www.afxpress.com
The Amex Airline Index , buoyed by a downturn in oil prices, added 2.1% to 54.91 points, bouncing back from the prior session's decline with every issue moving higher.
Crude oil futures fell below $63 a barrel in overnight trading in New York after Russia resumed natural-gas exports to Europe through Ukraine.
At last check, Continental added 68 cents to $21.84 and notched a new 52-week high after the Houston company turned in a 13.1% increase in traffic last month.
AMR Corp. , parent of American Airlines, joined Continental at the top of the advancers list, up 3% at $22.49.
Other notable advancers included ExpressJet Holdings , AirTran Holdings and Alaska Air Group , all of which gained almost 2%.
This story was supplied by MarketWatch. For further information see www.marketwatch.com.
For more information and to contact AFX: www.afxnews.com and www.afxpress.com
© 2006 AFX News
