Word: swine
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...stocks fell sharpest. Shares in Lufthansa, Europe's second-largest airline, tumbled by more than 12% before recovering slightly. Those of rival British Airways pulled back from similar lows, trading 8% down by mid-afternoon in London. Tour operators and hotel groups took similar hits. (See pictures of the swine flu outbreak in Mexico...
...From the volatility of global travel, investors sought the calm of safe havens. Both the dollar and the Japanese yen rose against major currencies. Defensive stocks, such as pharmaceuticals, registered healthy gains. Shares in Roche, the Swiss maker of Tamiflu, an antiviral drug effective against swine flu, had climbed almost 6% by Monday afternoon. Rival GlaxoSmithKline, which makes the influenza treatment Relenza, saw its shares rise even higher. (Read: "Swine Flu: 5 Things You Need to Know About the Outbreak...
...pictures of the swine flu outbreak in Mexico...
...Read: "Swine Flu: 5 Things You Need to Know About the Outbreak...
Concern that the world could be on the brink of the first influenza pandemic in more than 40 years escalated Sunday as France, Hong Kong, New Zealand and Spain reported potential new cases in which people had been infected with swine flu and Canada confirmed several new cases. In the U.S., where 20 such infections have been confirmed, federal health officials declared a public-health emergency and are preparing to distribute to state and local agenciesa quarter of the country's 50 million-dose stockpile of antiviral drugs. Meanwhile, in hard-hit Mexico, where more than 80 people have died...