European stock indices survived a productive week, it had a particularly positive effect on the shares of travel agencies. The reason for the sharp rise in stock prices was clinical trials of new coronavirus pills and positive feedback from the developer – the pharmaceutical company Pfizer. New covid pills are a breakthrough and a hope for the resumption of tourism around the world.
In addition, the European joint stock company STOXX 600 ended the week indefinitely, but it collected 1.7% of weekly profit for the fifth consecutive week. In terms of overall credit, European travel stocks rose 1.4%, especially after Pfizer Inc announced the high effectiveness of Paxlovid anticonvulsant pills, which the manufacturer said could reduce the risk of severe covidity by 89%.
The news of the new pill also affected the shares of Swiss duty-free retailer Dufryby, which jumped 10.1% – this day became a record for the year – from November 9, 2020, and at the same time fell shares of AstraZeneca. “Today’s news from the United States that Pfizer has developed a 89% tablet that is 89% effective in preventing hospitalization may well affect AstraZeneca’s share price, but it has significantly boosted confidence in airlines and the hotel industry,” said the chief analyst. CMC Markets Michael Hewson.
Similarly, the base French index CAC 40 on Friday for the first time overcame the barrier of 7,000 points and rose 0.8%. The Blue Chip Index, which represents well-known and financially stable public companies whose shares are “spinning” on the stock exchange, was the leader due to profits in the luxury companies Kering, Hermes and the group L’Oreal, which heads the hygiene care company.
In addition, the German group DAX after several weeks of indifference on the part of investors revived. Otherwise, it would jeopardize Europe’s largest economy. The Polish e-commerce group Allegro, which decided to buy the Czech online retailer Mall for 881 million euros, did not stay away, which led to an increase in sales of STOXX 600 by 10.6% or more. The CaixaBank index in Spain also jumped 1.6% after it said it had sold all its 9.92% in the Austrian bank Erste Group for 1.503 billion euros, in which case Erste added 5%.
Recently, heads of tourism companies held a meeting of all tourism ministers to discuss investment in tourism to create a more sustainable sector. At the summit in Glasgow on November 2, world leaders literally swore to do everything possible to develop tourism and preserve the climate.
“Restoring the balance of our relationship with nature is crucial to restoring both its environmental health and our personal, social and economic well-being. It is also crucial for tourism, which builds on and connects prosperous ecosystems,” the leaders said in the Glasgow Declaration on Action to Combat Climate Change in Tourism. In addition, they also agreed that building and rebuilding relationships with nature and man is a key factor in rebuilding the sector after the coronavirus pandemic.