The European stock exchanges made further progress on Tuesday. The hope that the end of the coronacrisis is in sight due to the positive developments with the vaccines led to investor optimism. Airlines were particularly in demand thanks to more flexible quarantine rules in England and the hope of a rapid economic recovery.
The AEX index on Stock Exchange Square 5 recorded 0.9 percent higher at 606.70 points at noon. The midcap climbed 1 percent to 897.43 points. Frankfurt, London and Paris won to 1.3 percent.
The news that the transfer of power in the United States to President-elect Joe Biden can officially begin also led to optimism on the stock markets. There are also reports that Biden wants to appoint the former chairman of the Federal Reserve Janet Yellen as Minister of Finance.
In London, IAG, the parent company of British Airways and Iberia, climbed 4.6%. Travellers to England can undergo a test after five days of quarantine from 15 December and no longer have to remain in isolation if the test is negative. Lufthansa won 5.5% in Frankfurt and budget fighter easyJet increased 5.7% in London. TUI (plus 11 percent) also benefited from the smoother rules.
In the midcap, Air France-KLM (plus 11 percent) was part of the leading group. BAM did even better and took the lead with a 16% profit. The builder increased more than 21 percent a day earlier thanks to a big deal with PGGM.
The euro was worth $ 1,1889, compared to $ 1,1825 a day earlier. The hope of economic recovery also pushed oil prices. A barrel of American oil went up 1.1 percent at $ 43.53. Brent cost 1 percent more at 46.50 dollars per barrel and reached the highest level since March this year.