FRANKFURT (dpa-AFX) - Shares in Tui continued their rally on Wednesday, almost reaching their May high of 7.212 euros. The shares of the tourism group gained just under 3.8 percent and thus also made it above their exponential 200-day line.

The insolvency of its competitor FTI and the expected return to the MDax provided arguments to buy. Deutsche Borse will decide on the changes in the Dax family in the evening. Tui's promotion is considered certain.

Meanwhile, the investment bank Oddo BHF raised its price target for Tui to 9.20 euros. The shares are also on the bank's "large caps conviction list". The valuation of the share is clearly below the historical average and investors are likely to focus more on how well the Group is doing, it said./ag/jha/