SpaceX failure hurts satellite operators

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Sunday’s SpaceX launch explosion last weekend caused significant falls in the share prices of European and US satellite operators as the market reacted to lower revenue forecasts for the operators.

Paris-based Eutelsat fell back 2.82 per cent to €29.97 but at one stage was down at €29.75, while Luxembourg-based SES finished the day at €31.12, down 1.94 per cent although again at one point hit €30.93.

Washington-based Intelsat was also not immune, and saw its share price fall back 3.03 per cent to $9.93 although it too hit a lower point during trading June 29th at $9.88.

However, the largest fall in the day was London-based Avanti Communications which had opened at 215p and finished the day at 202.24p, but at one point dropped to 197.25p.


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