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TRAVEL STOCKS BOOST EUROPE AT OPEN (0723 GMT)
Europe’s STOXX 600 rises 0.8% as bond markets calm down and some of the cyclical
names bounce after yesterday’s brutal selloff.
Travel stocks were top sectoral gainers (+2%) as the UK further relaxed quarantine rules. In
the coming weeks, it’s set to scrap quarantine for fully-vaccinated arrivals from other
countries.
Bond proxy sectors telecom and utilities were among the underperformers after recent rally.
Among single stocks, Vectura jumps 12.5% after cigarette maker Philip Morris outbid PE firm
Carlyle to buy the British pharma company.
(Thyagaraju Adinarayan)
*****
YOU NEED TO CALM DOWN… (0651 GMT)
In a week that’s seen U.S. Treasury yields dive as much as 20 basis points in three sessions
and European stocks suffer one of their worst days in two months, perhaps investors are heeding
the words from Taylor Swift’s “You need to calm down.”
Stock futures point to a brighter start for Europe, where indices were a sea of red just a
day ago. U.S….
