Melia Stock Jumps as U.S. Considers Ending Cuba Embargo

December 17, 2014 5:38 PM

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Melia Hotels International SA (MEL), the largest western European hotel chain by revenue, jumped the most in 18 months as U.S. President Barack Obama prepared to outline a plan to end his country’s decades-long economic embargo of Cuba.

Melia rose 5.6 percent to 8.98 euros at the close in Madrid in the steepest gain since June 25, 2013. Melia runs 27 hotels in Cuba, the company’s third-biggest set of properties, following its home market of Spain and Germany.

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