Stock Market Today, June 9: American Airlines Group Rises on Sustainable Fuel Deal

Reuters reports Botswana says Anglo American has selected a preferred buyer, the Global Diamond Consortium, for Anglo’s stake in diamond firm De Beers. Botswana, which holds 15%, is weighing whether to use its right of first refusal alone, with Anglo’s bidder, or with a third party. A deal is expected by Q4 2026, pending approvals.

Air China, China Eastern Airlines and China Southern Airlines expect combined first-half net losses of up to 9 billion yuan, reversing earlier profit. The companies cite higher fuel costs and weak passenger demand. Analysts forecast combined losses of about 16.8 billion yuan in 2026. Flight Master projects domestic and international passenger traffic to fall 3.6% in July-August.

China’s three largest airlines, Air China (601111), China Eastern (600115), and China Southern (600004), warned of combined first-half net losses up to 9 billion yuan, reversing earlier first-quarter profit. They cite weaker demand and higher fuel costs. HSBC expects combined 2026 losses of about 16.8 billion yuan. Flight Master projects July-August passenger traffic down 3.6% YoY.

The FTSE 100 closed up 0.24% at 10,497.29, helped by Vodafone shares rising nearly 13% after Xavier Niel agreed to buy Emirates Telecommunications Group’s stake, and by easyJet jumping more than 13% on Apollo Global Management’s £7.15 per share offer valuing the deal at about £5.7bn. AstraZeneca fell as much as 3.5% to 6.2% after Wainua trial results.

Melius Research downgraded American Airlines (AAL) from Buy to Hold on July 7, citing faster capacity growth that could pressure industry ticket prices. Melius still expects profit potential if fuel prices keep falling. It raised its AAL price target to $19 from $15. The article also notes about $34.9B debt and negative equity.

After President Trump said the Iran ceasefire is “over” while negotiations continue, global stocks fell and oil rose. The S&P 500 dropped about 1%, the Dow fell 831 points, and Nasdaq was down 1%. Brent crude rose 8% to $80.09. Fuel-heavy airlines and homebuilders declined; AI stocks like Nvidia and Broadcom rose. Apple and Broadcom said Apple’s deal could exceed $30B.