Hot stocks: Aviation, tourism-linked counters rise amid global gains, Covid-19 pill optimism

SINGAPORE travel-related stocks started the week on a stronger note, buoyed by global gains, positive data for Pfizer's experimental pill against Covid-19, as well as the US reopening its borders.

The US on Monday (Nov 8) ended its 20 months of restrictions on travel from around the globe, reopening its land and air borders to foreign visitors fully vaccinated against Covid-19.

Meanwhile, a trial of the US drugmaker Pfizer's experimental Covid-19 antiviral pill was stopped early after the drug was shown to cut by 89 per cent the chances of hospitalisation or death for adults at risk of developing severe disease, it said on Friday (Nov 5).

In Singapore, shares of national carrier Singapore Airlines C6L rose as much as 4.5 per cent on Monday (Nov 8) morning, up S$0.24 to S$5.52 as at 9.25 am. By 11.20 am, the counter was trading 3 per cent or S$0.16 higher at S$5.44, with 7.7 million shares changing hands.

Ground handler SATS S58 reached a high of S$4.32 as at 9.20 am, up 3.3 per cent or S$0.14, while SIA Engineering (SIAEC) S59 , the maintenance arm of Singapore Airlines, jumped 3.2 per cent or S$0.07 to reach a peak of S$2.29 as at 9.01 am.

SATS was trading 1.9 per cent or S$0.08 higher at S$4.26 as at 11.20 am, with 2.7 million shares traded, while SIAEC was trading 2.3 per cent or S$0.05 higher at S$2.27, with 801,700 shares traded.

Hospitality group Genting Singapore G13 was the second most traded by volume during the morning trading session. The counter jumped 3.2 per cent or S$0.025 to reach a high of S$0.815 as at 9.11 am. By 11.20 am, Genting Singapore's shares were trading 1.9 per cent or S$0.015 higher at S$0.805, with 28 million shares changing hands.

Wall Street's main indices scored record closing highs on Friday and booked solid gains for the week following a strong US jobs report and Pfizer's announcement.

Cruise operators Carnival, Royal Caribbean Cruises and Norwegian Cruise rose between about 8 per cent and 9 per cent. Pfizer's shares jumped about 11 per cent.

European equities also wrapped up another week of gains on Friday, led by advances in travel stocks - which jumped 1.4 per cent. The news lifted shares of Swiss duty free retailer Dufry by 10.1 per cent, to its best day since Nov 9, 2020, while also pushing down shares of AstraZeneca.

READ MORE:

• Airlines gear up for travel surge as US reopens
• Aviation, tourism-linked counters soar amid VTL announcements
• How does Merck's Covid-19 pill compare to Pfizer's?
• Pfizer CEO in talks with 90 countries for Covid-19 pill