‘Encouraging’ passenger data lifts airlines as British stocks end turbulent week

Passenger data from two popular budget European airlines released on Friday showed a marked increase in travellers in June, providing an encouraging boost to recovery prospects for the travel sector and helping airline stocks higher.

Shares in Ryanair RYA, +1.91% rose 1.7% while Wizz Air WIZZ, +0.78% stock lifted 0.5%. IAG IAG, -0.15% —the owner of British Airways and other carriers—as well as EasyJet EZJ, +0.59% were other airlines with stocks that caught the updraft of the positive passenger data. “The sector needs a continuous flow of people through airports and ongoing Covid restrictions imposed by various governments around the world mean the industry is still some way off from operating smoothly,” the analyst added.

But analysts noted that stocks have taken it in stride and were set to end the trading week even or slightly higher than on Monday.And: Here’s how the delta variant could impact markets and what to do, says JPMorgan Shares in GlaxoSmithKline GSK, -0.07% rose near 1% before paring gains to settle 0.2% down. The British pharma giant rejected activist investor Elliott Management’s proposal, made yesterday, to shake up its board of directors and begin a process that would put the future of its CEO, Emma Walmsley, in jeopardy. GSK also announced that it had partnered with U.S. group Alector ALEC, +67.

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