The optimism has been boosted by statements from leading scientists that the worst of the Covid-19 pandemic may have passed
Travel-related shares led the way on Tuesday as investors took cues from data and scientists that the spread of the Omicron variant of Covid-19 may not affect the global economy as much as previously feared.
Although registered infections have surged to new record highs in the UK, the Eurozone and the US, this morning there were pronouncements from leading scientists that the worst of the Covid-19 pandemic is behind us and that the spread of omicron in London may have “plateaued”.
Oxford University professor Andrew Pollard, chief investigator of the Oxford Covid-19 vaccine trials with AstraZeneca PLC (LSE:AZN), told the Telegraph, “The worst is absolutely behind us. We just need to get through the winter.
Elsewhere, epidemiologist Neil Ferguson told BBC Radio 4 this morning, “I am cautiously optimistic that infection rates in London in that key 18-50 age group, which has been driving the Omicron epidemic, may possibly have plateaued.
“It’s too early to say whether they’re going down yet.”
The professor from the School of Public Health at Imperial College London said there may see “a different pattern in hospitalisations”, which are generally going up across the country. “We may see high levels for some weeks,” he said.
Optimism was clear in financial markets, with the FTSE 100 rising 90 points to its highest level since mid-February 2020.
Travel-related stocks were the fore as traders bet that international travel will face fewer restrictions.
British Airways owner International Consolidated Airlines Group (LSE:IAG) was top of the blue-chip leaderboard, up 11% at 157.72p, while Wizz Air Holdings PLC (AIM:WIZZ) was leading the mid-caps, also up 11% to 4,674p after it also revealed passenger numbers for December.
Budget carrier easyJet plc (LSE:EZJ) was up 10% and engine maker Rolls-Royce Holdings PLC…