Banking and Tourism Actions Boost Europe’s Stock Exchanges to New Record

The actions europeans expanded their year-end rally this Tuesday (4), led by travel securities and banks, sensitive to the economy, amid new signs that the Ômicron variant of coronavirus may be less severe than initially feared.

The pan-European STOXX 600 index closed up 0.82% to 494.02 points, hitting a record high for the second session in a row.

Or subscript of banks it jumped 3.3%, to highs since November, and had the best performance of the day among its peers, with government bond yields on both sides of the Atlantic boosted by expectations of tighter monetary policy.

Europe’s travel and leisure index rose 3.5% to a high in more than six weeks. British airlines soared, with Ryanair and IAG gaining 8.9% and 11.3% respectively.

Wizz Air had a 12.2% rebound, leading gains on the STOXX 600, after reporting a strong increase in December traffic.

“There are early signs that this variant may not be as bad as feared,” said Max Kettner, chief multi-asset strategist at HSBC, in a statement.

In London, the Financial Times index advanced 1.63% to 7,505.15 points. In Frankfurt, the DAX index rose 0.82%, to 16,152.61 points.

The CAC-40 index, in Paris, gained 1.39%, to 7,317.41 points, while the Ftse/Mib, in Milan, gained 0.81%, to 27,954.84 points.

In Madrid, the Ibex-35 index rose 0.39%, to 8,795.80 points, and in Lisbon, the PSI20 index gained 0.58%, to 5,670.45 points.

Reference: CNN Brasil

You may also like