Travelport Worldwide Ltd Launch Leaves Sector Little Changed

Travelport Worldwide Ltd. TVPT gained more than 10 percent in its first morning of trading but other stocks in the business-to-business travel sector seemed unaffected. Atlanta-based Travelport, whose customers include travel agents, airlines, hotels and car rental companies, debuted Thursday priced at $16 a share and traded recently at $17.70. Sabre Corp. SABR was nearly unchanged and Amadeus IT Holding SA AMS fell 1 percent. Share of consumer travel stocks like Priceline Group Inc. PCLN, Expedia Inc. EXPE and Orbitz Worldwide, Inc. OWW were trading down modestly Thursday. Travelport's launch comes with a backdrop of worries concerning Russia and U.S. interest rates that sent the Standard & Poor's 500 Index down more than 1 percent in its steepest decline in seven weeks.