Travel and leisure stocks rejoice on summer holiday hopes

FILE PHOTO: The TUI logo is displayed on a computer screen in London, Britain, October 17, 2017. Picture taken on October 17, 2017. REUTERS/Hannah McKay

LONDON (Reuters) – European travel stocks soared on Tuesday amid reports Spain and Germany would ease travel restrictions, and no noticeable increase in infections were reported during the reopening of businesses after a two-month lockdown.

Cineworld (CINE.L), Tui (TUIT.L), British Airways-owner IAG (ICAG.L), easyJet (EZJ.L) and Whitbread (WTB.L) shares jumped 15% to 30%, driving London stock indices sharply higher.

The German government wants to end a travel warning for tourist trips to 31 European countries from June 15 if the coronavirus situation allows, the dpa new agency reported, according to the magazine Focus. Spain urged foreign holiday-makers to return from July.

After a long holiday weekend, London-listed stocks were playing catch-up with continental European stocks which soared on Monday. The travel and leisure stocks sub-index jumped to its highest levels since April 30.

Reporting by Thyagaraju Adinarayan, editing by Larry King

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