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05 Oct, Wednesday
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Bull Trader USA

Europe Markets: Airlines surge and stay-at-home stocks slump in European action

The reopening trade was the theme of European stock market trading on Tuesday, as airlines surged and stay-at-home stocks suffered.

Wizz Air WIZZ, +12.51% led an airline rally, surging as the Central European-focused airline nearly quadrupled passenger traffic in December compared to year-ago levels. Analysts at Citi, however, downgraded Wizz to sell from buy, warning of price pressure and inflationary costs will weigh on its bottom line.

Wizz Air shares surged 12%, with strong gains also seen for rivals International Airlines Group IAG, +12.06%, TUI TUI, +10.93% and Ryanair RYA, +9.28%.

“With yet more indications that omicron, though highly infectious, does not cause such serious illness, a wave of relief is pushing up companies which have been hit by worries about tighter restrictions,” said Susannah Streeter, senior investment and markets analyst at Hargreaves Lansdown.

By contrast, prepared mealkit company HelloFresh HFG, -6.63% stumbled 6%, with food-delivery firm Just Eat TKWY, -5.02% losing 5% and supermarket delivery firm Ocado OCDO, -5.36% dropping 4%.

The FTSE 100 UKX, +1.42% jumped 1.4% after a three-day hiatus, while the Stoxx Europe 600 SXXP, +0.86% rose 0.9%.

The French CAC 40 PX1, +1.35% rose 1.3% and the German DAX DAX, +0.89% added 0.8%.

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