Travel and tourism outperformed other sectors on international stock exchanges on Monday (May 18), with investors returning to shares that had been demolished by COVID-19.
The gain was across the board and dwarfed positive sentiment in other sectors.
Industry leaders that benefited included:
- Delta Air Lines soared 20% on good news from the vaccine front, cheered by positive news from US-based biotech firm Moderna about early results of a vaccine trial.
- Booking.com parent Booking Holdings leapt 11%.
- The leading cruise line stock, Royal Caribbean Lines shot up 16%.
- TripAdvisor was nudging 21% up on the day.
- Travel agency group Expedia was up 17% at 9pm on Monday.