The Prague Post - Tesla, airline shares take off

EUR -
AED 4.339901
AFN 82.97291
ALL 97.977767
AMD 454.421545
ANG 2.114593
AOA 1083.514144
ARS 1423.268618
AUD 1.793979
AWG 2.126855
AZN 2.004379
BAM 1.956812
BBD 2.386134
BDT 145.035005
BGN 1.956116
BHD 0.445476
BIF 3520.220489
BMD 1.181586
BND 1.501677
BOB 8.165705
BRL 6.408094
BSD 1.181811
BTN 101.016241
BWP 15.631621
BYN 3.8675
BYR 23159.08677
BZD 2.373677
CAD 1.608292
CDF 3404.149244
CHF 0.932156
CLF 0.028694
CLP 1101.11779
CNY 8.465003
CNH 8.458006
COP 4829.591229
CRC 596.508486
CUC 1.181586
CUP 31.312031
CVE 110.322053
CZK 24.677416
DJF 210.442597
DKK 7.460452
DOP 70.266338
DZD 152.801294
EGP 58.443729
ERN 17.723791
ETB 162.823369
FJD 2.635823
FKP 0.861135
GBP 0.858871
GEL 3.213878
GGP 0.861135
GHS 12.230549
GIP 0.861135
GMD 84.475209
GNF 10244.29786
GTQ 9.0877
GYD 247.140489
HKD 9.27548
HNL 30.883972
HRK 7.534993
HTG 154.990153
HUF 399.159882
IDR 19146.125115
ILS 3.982583
IMP 0.861135
INR 101.075885
IQD 1548.100603
IRR 49774.312762
ISK 142.19213
JEP 0.861135
JMD 189.80816
JOD 0.83779
JPY 168.693269
KES 152.743498
KGS 103.329173
KHR 4741.150956
KMF 495.084288
KPW 1063.52653
KRW 1598.898531
KWD 0.360479
KYD 0.98478
KZT 613.507277
LAK 25476.558156
LBP 105880.235544
LKR 354.603384
LRD 236.935513
LSL 20.776244
LTL 3.488917
LVL 0.714729
LYD 6.373296
MAD 10.606485
MDL 19.841673
MGA 5152.337503
MKD 61.535471
MMK 2480.415302
MNT 4234.949916
MOP 9.555258
MRU 46.904257
MUR 52.994174
MVR 18.182035
MWK 2049.098999
MXN 22.071767
MYR 4.959707
MZN 75.574784
NAD 20.776244
NGN 1813.77009
NIO 43.492492
NOK 11.847055
NPR 161.625585
NZD 1.932891
OMR 0.454311
PAB 1.181736
PEN 4.186465
PGK 4.87352
PHP 66.555143
PKR 335.328316
PLN 4.244431
PYG 9426.875128
QAR 4.296822
RON 5.073672
RSD 117.140119
RUB 92.69703
RWF 1697.627646
SAR 4.431254
SBD 9.850794
SCR 17.072049
SDG 709.541629
SEK 11.15764
SGD 1.501561
SHP 0.928541
SLE 26.52695
SLL 24777.273209
SOS 675.306372
SRD 44.025308
STD 24456.445823
SVC 10.340348
SYP 15362.938479
SZL 20.768741
THB 38.279252
TJS 11.669689
TMT 4.147367
TND 3.439379
TOP 2.767394
TRY 47.095425
TTD 7.99817
TWD 34.474004
TZS 3098.23911
UAH 49.451874
UGX 4248.196964
USD 1.181586
UYU 47.214417
UZS 15002.758708
VES 127.674941
VND 30874.84374
VUV 141.232975
WST 3.241675
XAF 656.254728
XAG 0.032458
XAU 0.000353
XCD 3.193295
XDR 0.822602
XOF 656.296405
XPF 119.331742
YER 286.239065
ZAR 20.773571
ZMK 10635.68957
ZMW 28.2128
ZWL 380.470229
  • CMSC

    0.0900

    22.314

    +0.4%

  • CMSD

    0.0250

    22.285

    +0.11%

  • RBGPF

    0.0000

    69.04

    0%

  • SCS

    0.0400

    10.74

    +0.37%

  • RELX

    0.0300

    53

    +0.06%

  • RIO

    -0.1400

    59.33

    -0.24%

  • GSK

    0.1300

    41.45

    +0.31%

  • NGG

    0.2700

    71.48

    +0.38%

  • BP

    0.1750

    30.4

    +0.58%

  • BTI

    0.7150

    48.215

    +1.48%

  • BCC

    0.7900

    91.02

    +0.87%

  • JRI

    0.0200

    13.13

    +0.15%

  • VOD

    0.0100

    9.85

    +0.1%

  • BCE

    -0.0600

    22.445

    -0.27%

  • RYCEF

    0.1000

    12

    +0.83%

  • AZN

    -0.1200

    73.71

    -0.16%

Tesla, airline shares take off
Tesla, airline shares take off / Photo: Joe Klamar - AFP/File

Tesla, airline shares take off

US and European stock markets rose on Thursday, with Tesla shares shooting higher after the electric carmaker reported record profits and airlines soaring as the travel outlook brightened.

Text size:

At the start of trading, Tesla shares rose 10 percent after the company reported a new record in quarterly profits of $3.3 billion on Wednesday.

Elon Musk's high-flying firm said its 2022 output plan was on track despite ongoing supply chain problems and a hit from recent Covid-19 lockdown measures in China.

Tesla "reported much better-than-expected Q1 results and shared some encouraging growth guidance," said Briefing.com analyst Patrick O'Hare.

While many carmakers have been hobbled by a lack of semiconductors, Musk said it "seems likely" the company will produce more than 1.5 million vehicles in 2022, which would be above the company's long-term target of at least 50 percent output growth.

- Airlines soar -

A forecast by United Airlines for surging travel demand as the pandemic impact fades helped boost airline shares in Europe and the United States.

Shares in British Airways parent IAG soared 7.7 percent and those in low-cost rival EasyJet jumped 6.2 percent in afternoon trading in London.

France's Air France-KLM stock jumped over four percent and Germany's Lufthansa climbed 5.5 percent in Frankfurt.

"The aviation sector is flying higher on expectations of a bumper quarter, after United Airlines posted record guidance for the second quarter," City Index senior markets analyst Fiona Cincotta told AFP.

The aviation sector was ravaged by the Covid crisis that erupted in early 2020, decimating demand and grounding planes worldwide.

Surging oil prices amid the fallout from the Russian war have also acted as a headwind.

"But with demand set to soar over the coming months the likes of IAG and easyJet are being propelled" higher, she said.

United Airlines shares jumped 10.4 percent at the open of trading.

The carrier forecast "the strongest second-quarter revenue guidance in company history" despite logging another Covid-induced loss for the first quarter.

American Airlines, meanwhile, reported another quarterly loss Thursday, but said a recent sharp improvement in bookings should enable it to achieve profitability in the second quarter.

Shares in American airlines climbed 8.2 percent and those in Delta gained 3.8 percent.

"After what has been a very difficult few years for the aviation industry, as a result of lockdowns and alarming inflation, United Airlines' outlook certainly inspired some confidence," XTB analyst Walid Koudmani told AFP.

Wall Street opened higher thanks in part to the positive sentiment driven by Tesla and airlines.

Europe's main indices were also higher in afternoon trading.

Stock markets in Hong Kong and Shanghai fell sharply on heightened anxiety over China's renewed Covid lockdowns and curbs on tech companies.

Tokyo, however, rallied on optimism over a falling yen, which boosts exporters.

Meanwhile, world oil prices rebounded after diving the previous session on weaker demand concerns.

- Key figures around 1330 GMT -

Frankfurt - DAX: UP 1.5 percent at 14,573.38 points

Paris - CAC 40: UP 1.9 percent at 6,753.12

London - FTSE 100: UP 0.2 percent at 7,647.50

EURO STOXX 50: UP 0.6 percent at 3,794.24

New York - Dow: UP 0.8 percent at 35,435.80

Tokyo - Nikkei 225: UP 1.2 percent at 27,553.06 (close)

Hong Kong - Hang Seng Index: DOWN 1.3 percent at 20,682.22 (close)

Shanghai - Composite: DOWN 2.3 percent at 3,079.81 (close)

Euro/dollar: UP at $1.0894 from $1.0853 late on Wednesday

Dollar/yen: UP at 128.27 yen from 127.86 yen

Pound/dollar: DOWN at $1.3064 from $1.3068

Euro/pound: UP at 83.29 pence from 83.05 pence

Brent North Sea crude: UP 1.8 percent at $108.75 per barrel

West Texas Intermediate: UP 1.9 percent at $104.09 per barrel

burs-rl/lth

N.Simek--TPP