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U.K. stocks surged Tuesday to kick off the new year, with reopening plays rallying and stay-at-home stocks languishing.
The FTSE 100
UKX,
surged 1.4% after a three-day break. Across the London Stock Exchange, airline and travel stocks surged, led by a 13% rally for Wizz Air
WIZZ,
the Central European focused carrier that nearly quadrupled its December passenger traffic.
International Airlines Group
IAG,
TUI
TUI,
easyJet
EZJ,
and Carnival
CCL,
each surged on hopes for the travel sector. A 5 p.m. news conference scheduled by U.K. Prime Minister Boris Johnson to address rising omicron infections is not expected to result in tighter restrictions.
On the flip side, veterinary drugmaker Dechra Pharmaceuticals
DPH,
and grocery delivery firm Ocado
OCDO,
each struggled.
“Investors prefer focusing on a glass half full rather than a glass half empty at the start of the year,” said Ipek Ozkardeskaya, senior analyst at Swissquote.
