Tourism and retail brands’ shares rebound as global lockdown eases

british airways

Share prices in UK-listed tourism and retail sectors rose on Tuesday after nations signalled an easing of lockdown amid the coronavirus pandemic.

British Airways’ owner International Consolidated Airlines Group’s shares soared more than 20% to £2.29. EasyJet’s shares rose 17% to £6.56.

Intercontinental Hotels rose 10% to £3.74 and leisure group Carnival’s shares climbed more than 12% to £1.19.

Investors piled into shares in the tourism industry after after Spain’s Prime Minister Pedro Sanchez said the country will open up to tourists from July.

Retail sector to re-open in June

Share in some of the biggest names on the high street also rose, after Prime Minister Boris Johnson said shops would reopen on 15 June.

Marks & Spencer rose rose more than 4% to 98p per share, and Primark owner AB foods climbed more than 8% to £18.14.

Ready to open: Primark and other high street brands will return in June.

WH Smith, which has a strong presence in airports and railway stations, rose 14% to £10.99 on the news.

The FTSE 100 index overall rose 71 points o just over 1% to 6,062.

Britain’s high street brands have been mothballed for more than eight weeks after the lockdown forced the entire nation to close down.

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