Hopes of a reopening of global travel has seen American Airlines rise 60% this week and British Airways owner IAG gain more than a quarter, again suggesting share prices may have run away, even with all the QE and other support provided by governments. IAG today jumped 11% on further hopes for travel restrictions lifted between the UK and Mediterranean hotspots. Carnival surged 11% too, while easyJet gained 8% and aero engines maker Rolls-Royce leaped 8%.
It was, as they say in the markets, a "risk-on" day, where investors pull out of the dependable plodders such as utility firms and consumer goods giants and back the faster growth shares. Severn Trent, Reckits and Pennon all fell 2% accordingly.
Likewise on the FTSE-250, Aston Martin surged 13% after yesterday's job losses announcement, and covid-hit WH Smith and Upper Crust group SSP - both big in airports and train stations, leaped 10% and 8% respectively.
