Jim Armitage: Markets’ overexcitement leads to a holiday hangover

Thomas Cook’s battering on the stock market today tells us a lot, but not about Thomas Cook. Little more than that the stock market has spent the past few weeks getting totally carried away with itself, marking the shares up sharply in Cooks and Tui with no apparent reason. The only actual negative in the statement was chief executive Peter Fankhauser saying he was “cautious” about 2017.