Travel companies lead European shares higher due to global market rally | Instant News


Travel shares rose in Europe on Tuesday about Spain’s decision to allow foreign visitors, as shares rose for a second day amid optimism over a slowly recovering world economy.
FTSE 100
UKX,
+ 1.08%
up 1.8% after a three day break. TUI
TUI,
+ 40.49%
jumped 35% as German-based travel operator based in London plans to resume flights in late June, according to an interview given by its chief executive to Rheinische Post, when he also spoke positively about Spain’s decision to allow foreign tourists to enter July .
Iberia owner, International Consolidated Airlines Group
IAG.
+ 19.75%
jumped 20% and the InterContinental Hotel
IHG,
+ 9.32%
up 13%.
German DAX
DAX,
+ 0.51%
up 0.9% and the French CAC 40
PX1,
+ 0.93%
add 1.6%.

“The theme of recovery continues to support risky assets as more and more businesses in the world are given the green light to reopen, sparking hopes of a sustainable recovery because economic life is being resuscitated after a few weeks of closure,” said Raffi Boyadjian, senior investment analyst at XM.
In Germany, the GfK forward-looking consumer sentiment index will increase to minus 18.9 points in June, from an upwardly revised minus 23.1 points for May. “They continue to show difficult conditions for consumers, but a rebound in this month’s sub-index is a good sign. If that continues, the foundation for a very strong Q3 looks solid, “said Claus Vistesen, chief eurozone economist at Pantheon Macroeconomics.

A notification tells customers about the closure of the TUI travel company branch in Berlin on May 13, 2020, amid the coronavirus COVID-19 pandemic. TUI shares surged on Tuesday.

Getty Images

While fending off attacks on the lockdown of his top aide, British Prime Minister Boris Johnson announced the reopening of the retail sector, with the opening of car dealerships in early June and the opening of non-essential retailers in the middle of the month.
Japan is planning new stimulus measures as it reopens its economy this week, and People’s Bank of China Governor Yi Gang insists the central bank will be “flexible.” Nikkei 225
NIK,
+ 2.55%
rallied 2.6% in Tokyo and Shanghai Composite
SHCOMP,
+ 1.01%
up 1%.
Announcement that trials begin for the COVID-19 vaccine from Novavax
NVAX,
-7.90%
also increases sentiment.
Futures on the Dow Jones Industrial Average
YM00,
+ 1.95%
up 555 points.

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