Travel stocks hit Europe after British move latest news


European shares fell Monday (July 27th) as travel companies retreated after Britain imposed quarantine on travelers returning from Spain due to a rise in Corona virus infections.

The Stoxx 600 index of European shares fell 0.5% by 0718 GMT, after recording the largest weekly decline in four weeks on Friday.

The travel and entertainment sector index fell 2.3%, while the shares of political tour operators TUI, EasyJet and IAG, owned by British Airways, Biritish Airways, fell between 8% and 13.5%.

The largest European holiday organizer, TUI, said on Sunday that it has decided to cancel all holidays to Spain until Sunday, August 9.

Spanish stocks fell while Ireland’s benchmark index fell 1.4% after Ryanair said it was impossible to say whether it would turn into an annual profit because of the impact of the Covid-19 pandemic.

The German Dax was among the number of gainers, as it was supported by a rise in the share of SAP Software Group 2.9% after it announced plans to separate and put Qualtrix, the American company specialized in measuring consumer sentiment via the Internet, on the exchange.


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