Airlines shares rise amid speculation over travel changes

Speculation that the UK’s international travel restrictions may soon be revised spiked airlines on Thursday.

According to reports, those who have had two vaccines could travel without quarantine to all but the most affected countries, and avoid expensive PCR tests when traveling to the UK.

Traders responded to this speculation on Thursday by sending shares of easyJet and Wizz Air near the top of the FTSE 250.

On the index’s bigger cousin, the FTSE 100, British Airways owner IAG and aircraft engine maker Rolls-Royce have soared.

“The traffic light system in the UK has come under considerable criticism from industry bosses and consumers alike, so it’s no wonder that speculation that it is on the verge of dying ‘being dropped have rang with investors, “said AJ Bell financial analyst Danni Hewson.

“The October semester is the next big opportunity for the travel industry and any changes that can make travel less destabilizing and testing less expensive will pay dividends.

“There are many question marks as to how far the government will go, especially when it comes to changing the testing requirements, but even simplifying the core areas, no-go areas will go a long way in build confidence, especially among families. . ”

Their increases and positive moves elsewhere on the index were enough to offset poor performance in the mining sector.

The FTSE 100 gained 11 points to 7,027.48, a gain of 0.2%.

The last 10 stocks on the index included eight mining giants: Anglo American, Rio Tinto, Fresnillo, BHP, Glencore, Antofagasta, Polymetal and Evraz.

The declines were inspired by the rise in the value of the dollar, which lowered the prices of copper and other metals.

By day’s end, a pound would buy $ 1.3765, down less than 0.1%, similarly falling against the euro at 1.1704.

In Europe, the Frankfurt Dax rose 0.3%, while the Paris Cac closed up 0.6%.

Two major New York indices, the S&P 500 and the Dow Jones, were both trading down around 0.6% when markets in London closed.

In company news, retail giant Marks & Spencer has announced it will close 11 of its stores in France due to supply issues with fresh and chilled food in the wake of Brexit.

The group blamed the Brexit disruption on UK exports to Europe for its decision to close all franchise stores with its partner SFH in France. Shareholders appeared slightly worried, with stocks falling 2.1%.

Ready-to-wear brand Superdry reported a pre-tax loss of £ 36.7million for the year ended April 24, down from a loss of £ 166.9million a year earlier. Revenue fell 21.1% to £ 556.1million for the year as it was disrupted by further lockdowns in key regions, but bosses said they believed the brand “passed on cap “. Shares closed 14.9% higher at 327.5p.

Home improvement retailer Wickes said first-half profits exceeded targets thanks to strong digital volumes, as the company announced its first dividend payment.

Shares of the company, which only went public at the start of the year following the Travis Perkins split, closed 2.1% higher after the announcement that adjusted pre-tax profits had increased to £ 46.5million for the six months ended June 26.

Builder Galliford Try said it has seen a return to profits and is coping well with material shortages and price hikes amid supply chain issues.

The group posted better-than-expected pre-tax profits of £ 11.4million for the year ended June 30, compared to underlying losses of £ 59.7million the year before.

The shares closed 4.3% higher.

Online fashion giant Asos has unveiled its emissions reduction plans and will reduce so-called range one and two emissions per order by 87% by 2030, compared to the fiscal year ending in 2019.

It will also reduce emissions from its own-brand products by 58% per pound of profit the company makes by the end of the decade, and reduce transportation emissions by the same amount.

Shares fell 0.5%.

The biggest amounts on the FTSE 100 were Ashtead, up 308p to 6,162p, IAG, up 5.34p to 142.46p, Flutter Entertainment, up 555p to 15,025p, Rolls-Royce, up 3.56p to 109.06p, and Intermediate Capital Group, up to 66p to 2,238p.

Biggest drops on the FTSE 100 were Anglo American, down 135p to 2,818.5p, United Utilities, down 209p to 5,010p, Fresnillo, down 32p to 816.4p, BHP, down 68p to 1,968.2p, and Antofagasta, down from 33p to 1,433.5p.

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