'Market Report' 'Independent' 7. January 2005

Finally, brokers were surprised to see MyTravel's ordinary shares and its so-called "A" shares trade at different prices. The two classes of share are identical in all but name, according to brokers, with the differentiation merely a quirk of the company's recent refinancing. So why the difference in price yesterday when MyTravel ordinaries closed at 7.5p, down 0.5p, while its "A" shares closed at 4.75p, down 1.1p?

Market professionals and the company were at a loss to explain the apparent anomaly. Nevertheless, brokers advised clients holding MyTravel ordinaries to sell them in the market and buy the same quantity of the lower-priced "A"s. The difference in the value of the two deals the investor keeps as profit. MyTravel is tipped to consolidate the two classes of stock into one in the not too distant future.

Please do note that the newly issued MyTravel shares have the symbol MT.S as opposed to the older MT.L symbol.

Happy hunting guys"""

Firming again, today. It rose after First Choice announced its results earlier in the week, eased off a touch, now it's moving up again. Results next week should confirm progess and that the company is making good gound on its recovery.

Not a bad week, the uptrend continues. After a long series of 2,000 AT sells, there was an interesting little spike just before the close on Friday.

The key aspect now is whether the travel industry will stand aside while MyTravel regains it rightful place in the market, or will there be an early attempt to take it out. Might not be so hard as there are already some large stakes which could readily be bought. Keep watching closely.