Airline stocks are gaining on the FTSE 100 (^FTSE), with IAG (IAG.L) and Rolls-Royce (RR.L) among the leaders.
IAG shares were up as much as 11% on Thursday and Rolls-Royce had even more dramatic gains, up 22% at around 4:15pm in London.
“RR [Rolls-Royce] is set to post record gains for this week as investors are buying the stock as it is way too cheap, said Naeem Aslam, chief market analyst at AvaTrade. “As for the IAG, speculations are that there could be another support package for airlines as well just like the US.”
Markets have been buoyed in Asia and Europe as investor confidence grew overnight following renewed hopes for a US stimulus deal. US president Donald Trump said on Wednesday that he will resume talks after the election and further positive news came