Thomas Cook shares up 8% as bookings remain 'stable'

Shares in travel group Thomas Cook were up nearly 8% this afternoon after it reported market share remained stable and revenues were up in the fourth quarter.

Yesterday rival firm TUI Travel claimed the financial troubles at debt laden Thomas Cook, which were well publicised last year when it issued three profits warnings, had played to TUI's advantage. TUI reported bookings were unchanged in January while the industry reported a 14% drop. However, Sam Weihagen, group chief executive at Thomas Cook, refuted claims the firm's market share was declining in an interim management statement: "I have been encouraged by how our bookings have developed, particularly in the UK where our market share for both the winter and summer seasons remains broadl...