Europe Travel and Leisure Stocks Fully Erase Pandemic Losses
- Stoxx 600 travel and leisure subgroup rises to intraday record
- Gains in gambling stocks have offset declines in travel shares
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A gauge of European travel and leisure stocks erased the last of its pandemic losses, propelled by gains in gambling companies, and as optimism over a potential rebound in demand spurs a rally in airlines and tour firms.
The Stoxx 600 Travel & Leisure Index rose as much as 3.2% Monday, taking it above the closing level of 267.68 on Feb. 19, 2020, which marked a high for European markets before the pandemic-driven selloff.