SpaceX failure hurts satellite operators

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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