- Airlines and travel stocks set off on a flight path to recovery
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- Mining, house builders and financial stocks in the red
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''After months of stomach turning turbulence, the travel sector has flown into brighter skies with the announcement that double vaccinated
The news immediately pulled
A lift-off in flight bookings is now expected, and the airlines have been keen to stress they are ready to move quickly to capitalise on pent up demand. Tour operator TUI also surged away from losses, with expectation of a flood of enquiries for last minute package holidays.
The relaxation of the rules also gave Rolls Royce a recovery boost, with shares gaining ground after morning losses. The group's core business is servicing and delivering wide body aircraft engines, which are used primarily for long-haul flights, so now its longer term prospects now look a little brighter.
However, worries will persist that although British travellers might have a freer pass to travel, the spread of the Delta variant may lead to other countries imposing tougher quarantine rules on visitors. Testing requirements are also likely to continue to be a headache and an added expense for tourists, so could dampen demand a little.
The new rules also sparked a gradual recovery for
But overall the cheers from the
The combined chants of central banks that price rises wouldn't be sustained over the longer term have hit a note of discord with
Sectors such as transportation and hospitality have already reported worker shortages and now the recent update from the
Alongside the inflation warning lights, and potential withdrawal of economic stimulus, come concerns that the Delta variant could trip up recovery in countries around the world, particularly with the effectiveness of vaccines coming under question.
Persimmon's investors were pessimistic, and the house builder was the biggest faller on the
Although miners are usually seen as a hedge against higher inflation, they were not immune to the sell off with Anglo American, Glencore and
Financial stocks like Barclays and Lloyds were also deep in the red zone, as falling bond yields leads to worries that net interest rates will stay lower for longer, eating into margins the banks can earn on loans.
Risers on the
NOTES FOR EDITORS
Media Contact:
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