Thomas Cook shares down 50%

Shares in travel firm Thomas Cook plummeted this morning after the firm said it was in talks with its banks about borrowing more money.

This was due to a "deterioration of trading in some areas of the business in the current quarter", the firm said.

MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free

https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

In October, Thomas Cook said aid it had reached agreement with bankers to amend the terms of its existing facilities while securing an extra £100m of headroom.

Shares fell 51% on opening. Before today the stock had dropped 78% already this year.

MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.