It seems that the European shares are all set to make weekly gains. For several months, there were several restrictions on multiple sectors. Now, the governmental organizations and authorities have started lifting all of them. As the travel restrictions were eased, the good results were apparently visible with the soaring of travel stocks. Hotel groups and airlines started making impressive gains. Several countries such as Britain have started concrete steps to come back to complete normalcy. The rebound was also felt in the luxury stocks. A gain of 0.7% was seen in the pan-European STOXX 600 index.
The European travel and leisure index managed to add 1.0%. Marking one of the best single-day performances, it recently closed with a growth of 3.4%. The rules regarding international travel have started easing up. The InterContinental Hotels and Wizz Air, British-Airways-owner IAG have made a gain of between 1.2% and 4.0%. The shares of airline companies have started jumping after a prediction of growth in passenger numbers. European economies strengthened further as banks and retailers were also among gainers. Both these sectors managed to get up more than 1%. A massive gain of 3.9% was recorded in Germany’s Commerzbank. It has been reported that US investor Cerberus has intentions to take an 15.6% stake in the bank.
Markets in Europe are performing very impressively because the sector of leisure and travel is making decent gains. The Asian stock market is also stable although there are small concerns. Some regional indexes experience a minor fluctuation due to factors such as inflation and politics. There are other factors that affect the market performance such as cautious global sentiments. The conscious investors take proper care about such factors. However, there should be no doubt that European stocks have cemented their footings. A very strong US data is also reviving hopes in the heart of investors that the world's largest economy is back on track. A massive gain of 19.5% was made by Paris Match magazine owner Lagardere (LAGA.PA) after media group Vivendi announced its intention to purchase another stake in the company. Many companies are confident that their revenue charts will improve dramatically in 2022. British fashion brand Superdry (SDRY.L) is one among them. It made a gain of 14.9% after announcing a recovery forecast.
The Spanish pharmaceuticals company Grifols also made a gain of 5.8%. The company took a concrete step in order to consolidate its position in the plasma-based drug industry. The Grifols proposed a $1.9 billion (1.6 billion euro) takeover of its German rival Biotes.