The reopening trade was the theme of European stock market trading on Tuesday, as airlines surged and stay-at-home stocks suffered.
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.
“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
stumbled 6%, with food-delivery firm Just Eat Takeaway.com
losing 5% and supermarket delivery firm Ocado