Stock markets jumped on both sides of the Atlantic on Monday amid hopes that a coronavirus vaccine is in sight.
Airlines and travel firms led the rally after US biotech company Moderna revealed positive results in early tests for an experimental vaccine that showed signs of creating an immune system response in humans.
538prom精品视频在线播放The tests, on a small group of people, gave hope that an antibody could be created which stops the virus from replicating.
Moderna's data “could not have been better”, executive Stephane Bancel said, and the company is now seeking to test a larger group – potentially thousands of people.
Shares in Moderna soared by a quarter in New York as the Dow Jones Industrial Average rose more than 900 points, or 3.9pc, while the S&P 500 added 3.2pc and the tech-heavy Nasdaq 2.4pc
538prom精品视频在线播放In London the FTSE 100 did even better, adding almost 250 points to close 4.3pc higher at 6,048 points. There were double-digit rises for five companies including easyJet, and InterContinental Hotels Group, cruise line operator Carnival and British Airways owner IAG.
Other European airlines also posted strong gains, with Ryanair up 15pc and Lufthansa 9pc better. United Airlines jumped 18pc in New York and Delta climbed 12pc.
Aerospace companies soared too. Airbus and Boeing both putt on almost 12pc, while jet engine makers Rolls-Royce, GE and United Technologies gained between 8pc and 14pc. US oil rose above $30 a barrel for the first time in 12 months.
A vaccine is seen as crucial for ending lockdowns permanently and allowing the world to return to normal. It will also mean quarantines can be ended so that inernational travel can resume without social distancing measures that would seriously reduce jet passenger numbers.
Airline consultant John Strickland, of JLS Consulting, said: “This is all very early and may be premature hope, but if this means there could be vaccine it will be exactly the good news the airline industry has been hoping to hear.
538prom精品视频在线播放“Flying with middle seats empty is neither practical or economic, and checks on the ground at airports will make flying almost impossible – this could be that circuit-breaker that makes air travel realistic again.”
538prom精品视频在线播放However, huge damage has already been done to the industry. Even if a vaccine is fast-tracked and ready in months, airlines and manufacturers will still be scarred.
Mr Strickland said: “The summer is lost for aviation, and winter bookings are such a mess that they are pretty much gone too. Even with a vaccine in the near future, coronavirus will mean a lost year for the industry.”
As well as Carnival's 14pc rise, other cruise operators were also buoyed. Royal Caribbean and Norwegian Cruise Lines both gained 15pc. Travel firm Tui rose 13pc and On The Beach was up 17pc.
However, state-run Thai Airways International looked set to be the first flag-carrier airline to fail as it closed in on a restructuring through a bankruptcy court arrangement.
A government-backed panel supported the plan, which will be considered by the Thai cabinet on Tuesday. The scheme – which would not see the airline wound up – could mean Thai Airways is no longer a state enterprise.