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Travel stocks drive European shares to new highs

Alex Lowe by Alex Lowe
January 4, 2022
in Spotlight, US Stocks
0

Home » Travel stocks drive European shares to new highs

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(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window)

Jan 4 (Reuters) – European stocks extended the new year rally on Tuesday with economy-sensitive travel, retail and commodity stocks leading the gains on fresh signs that the Omicron virus variant might be less severe than initially feared.

The pan-European STOXX 600 index rose 0.6% to 492.42 by 0809 GMT, hitting a record high after Wall Street’s S&P 500 and Dow closed at all-time highs overnight.

The travel & leisure index jumped 2.5% to its highest in more than six weeks. Airlines Ryanair, British Airways-owner IAG and Wizz Air gained between 6% and 8%.

London’s FTSE 100 gained 1%, catching up with a global rally as trade resumed after a long holiday weekend.

Britain’s vaccine minister said people being hospitalised with COVID-19 in the United Kingdom were broadly showing less severe symptoms than before.

French Finance Minister Bruno Le Maire said although the surge of the fast-spreading Omicron variant was disrupting some sectors, there was no risk of it “paralysing” the economy, and stuck to a forecast of 4% growth for France’s GDP in 2022. (Reporting by Sruthi Shankar in Bengaluru; Editing by Subhranshu Sahu)

Stock Market, Latest News on C N N.

Tags: Airlines (NEC) (TRBC level 5)Airlines (TRBC level 4)Central / Eastern EuropeCompany NewsDow JonesEquities MarketsEuro ZoneEuropeFranceGermanyIndustrials (TRBC level 1)IrelandITALYNasdaqPassenger Transportation Services (TRBC level 3)SpainSTOCKS/ (URGENT)SwitzerlandTransportation (TRBC level 2)United KingdomWall StreetWestern Europe
Alex Lowe

Alex Lowe

Alex is a financial writer covering forex. He is a expert financial journalist whose credits include Bloomberg, FT of London, Chicago Tribune. Contact: [email protected]

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