European shares snapped three-day rally, travel stocks gain

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European shares snapped three-day rally, travel stocks gain

On Friday, the 10th of January 2019, a majority of European stock indices had wrapped up the day broadly lower following reveal of a much weaker-than-anticipated US job growth in December that stoked a slowdown fret again among the European traders and goaded an en masse sell off, however, gains of travel and leisure stocks’ indices pared some of the losses witnessed on Friday’s (January 10th) market.

In point of fact, amid a steep sell-off on Friday (January 10th), Europe’s largest low-cost airliner Ryanair posted a better-than-anticipated Christmas and holiday quarter earnings, which had spiked its shares’ prices to a two-year high, while receiving a boost from Ryanair, European budget carrier, Easyjet alongside Wizz Air added 4 per cent and 7 per cent respectively.

More importantly, Europe’s travel and leisure subsector surged to their highest level in more than a year and a half on Friday (January 10th), paring some of the losses meaded of a havoc-scale sell-off, as regional pan-European index ended the day a dime lower after hovering in a greenish territory for most part of the day.

Meanwhile, referring to a bleaker US job data that revived slowdown fears again in the European market alongside an investors’ approach to bag profit following a volatile week, a Senior market analyst at IG, Joshua Mahony said on Friday’s (January 10th) European market wrap-up, “The recent stock surge has ground to a halt after an underwhelming U.S.

jobs report. However, with the U.S.-China issue coming back into focus, next week is likely to see a shift onto more positive topics. ” Citing statistics, on Friday’s (January 10th) European market wrap-up, London’s FTSE 100 shed 0.14 per cent to 7,587.85, while London’s mid-capped index FTSE Mid 250 muzzled 0.35 per cent to 21,566.67.

Besides, Frankfurt’s DAX alongside French CAC 40 winded down the day marginally lower to 13,483.31 and 6,037.11 respectively. Elsewhere in the Europe, Madrid’s benchmark IBEX 35 dropped 0.09 per cent to 9,573.60, while Italy’s FTSE MIB rounded off the day 0.02 per cent higher to 24,021.40.