The German Stock Exchange authority, BaFin, is said to be starting an investigation into striking changes in the share of the tour group TUI. In the days and weeks before the beginning of December, when an agreement was reached on state aid, marked exchange rate reactions were observed. This is reported by the German newspaper Börsen-Zeitung.
A member of the Lower Saxony parliament would have pointed out to BaFin the striking variation in the price. In the weeks leading up to the aid agreement, there was a marked increase. This happened at the time when a large number of hedge funds took so-called short positions at TUI, assuming that the price will fall.
BaFin was unable to respond to the newspaper, but earlier said that the monitoring of currency fluctuations is standard part of the watchdog’s remit.