Airline inventories surged on Tuesday as the European Union moved to welcome foreign tourists to the region. This indicates that as COVID-19 vaccination becomes more prevalent, more normal travel and tourism situations can be resumed.
Shares of IAG, owner of British Airways
And with air
It was one of the major drivers of European trade as expectations for a recovery in the travel industry, which was hit hard by the COVID-19 pandemic, increased.Share Accor of major hotel groups
And Intercontinental Hotels Group
It rose again.
On Monday, EU officials recommended relaxing travel restrictions to allow tourists from more countries to enter the block of 27 members.
At the suggestion of the European Commission, those who have been fully vaccinated with COVID-19 with EU-approved vaccines or who come from countries with “good epidemiological conditions” are welcomed in the region. EU approved vaccine from Pfizer
And Johnson & Johnson
“When to revive [the EU’s] To rekindle cross-border friendships with the tourism industry-safely, “European Commission President Ursula von der Leyen said on Twitter.
“We propose to welcome vaccinated visitors and visitors from well-being countries again.”
“But if variants emerge, we must act swiftly. We propose an EU emergency braking mechanism,” she added. Currently, visitors from seven countries with low infection rates can enter the EU for non-essential reasons.
Travel stocks added a rise to the mixed European stock market on Tuesday. Pan-European Stocks 600
While London’s FTSE 100 was slightly below the flat
The index was 0.5% higher. CAC 40
DAX in Frankfurt, up 0.2% in Paris
It was 0.6% lower.
Dow Jones Industrial Average 30 Futures
After rising 238 points to finish at 34,113 on Monday, it was down about 25 points set for the soft open.
The broad story of economic optimism caused by the diminishing severity of the COVID-19 pandemic in many countries continues to raise stock prices.
Russ Mold, an analyst at AJ Bell, said:
In addition to airlines, metal and mining stocks contributed to the rise of the European stock market, and Rio Tinto stocks
A major European-listed oil company attended a commodity party and was one of Europe’s other major rising companies, holding a stake in BP.
Royal Dutch shell
Shares of Semiconductor Group Infineon
Nevertheless, it fell by nearly 4.5% Chipmakers Raise Guidance on Revenue and Margins This year. The group said it was facing supply constraints after one of its Texas plants was temporarily closed.
Online meal kit provider HelloFresh
Inventories fell by nearly 4.5%, another force dragging the European market. Following the group’s quarterly earnings.. The group confirmed the revenue and adjusted revenue growth announced in April.
Airline stocks rise as Europe plans to welcome more foreign tourists
Source link Airline stocks rise as Europe plans to welcome more foreign tourists