European travel and leisure stocks jump, oil majors slip on Israel-Iran ceasefire

Accor SA

24/06/2025 08:08

June 24 (Reuters) - Shares in European airlines and travel stocks rose sharply in early trade on Tuesday after Israel agreed to U.S. President Donald Trump's proposal for a ceasefire with Iran.

Air France KLM AIRF.PA, British Airways owner ICAG.L, Wizz Air WIZZ.L, Lufthansa LHAG.DE were up between around 5% and 8% at 0720 GMT.

Europe's largest travel operator TUI TUI1n.DE rose some 8%, Intercontinental Hotels IHG.L 3.5%, Accor was up 6%.

Oil majors, in the meantime, took a hit after crude prices fell to their lowest in two weeks LCOc1. Oil has lost 10% in value in the last week.

A basket of European energy stocks .SXEP was down 3%

BP BP.L and Shell SHEL.L were down around 5% and 4%, respectively, while Norway's Equinor EQNR.OL fell around 7%.

 (Reporting by Samuel Indyk, Anna Pruchnicka; Editing by Amanda Cooper)

 ((anna.pruchnicka@thomsonreuters.com; +48 58 769 65 14;))