Cameron orders ‘monitoring’ of Cook’s position

Prime Minister David Cameron has ordered close monitoring of Thomas Cook’s financial position.

Responding to a question in Parliament, Cameron said: “I have obviously asked the Business Department to give me a report on what is happening in terms of Thomas Cook, because I think it is important to make sure this business is in a healthy state.”

His comments came as two of Cook’s banks are reported to have privately indicated that they were likely to support a new funding deal to enable it to trade out of its difficulties, according to The Times.

Shares in Cook, which slumped by 75% after Tuesday’s announcement that it was in talks with its banks over more borrowing, made a minor recovery yesterday, closing 9% higher at 11.12p.

Tui Travel shares rose by 12.7% to 154p amid suggestions that it could benefit if holidaymakers think twice about booking with Thomas Cook.

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