What Happened
Shares of Carnival (CCL 2.78%) (CUK 3.02%) were rising 2% higher in midday trading Friday as travel-related stocks were getting a boost from a generally better outlook for the sector.
So what
Cruise ship stocks were among the beneficiaries of the U.K. announcing it would consider easing travel restrictions imposed due to COVID-19. Not only was Carnival rising, but Royal Caribbean (RCL 3.91%) and Norwegian Cruise Lines (NCLH 2.50%) were also up about 2% around noon EDT.
Image source: Getty Images.
Now what
Britain's transportation minister said he would simplify the rules for international travelers to and from the U.K. in a bid to "reduce costs, take advantage of higher levels of vaccination, and keep us all safe."
The U.K. is one of a handful of places that has kept strict pandemic-related restrictions in place even as much of the rest of the world has relaxed their own rules in light of widespread availability of vaccines and rising vaccination rates. Many U.K.-based travel and tourism businesses have said they are in danger of further job loss or going under in the face of yet another holiday season with little to no business.
After getting a bounce from easing pandemic fears, cruise operators have seen their shares fall from recent highs. Carnival and Norwegian are down nearly 20% over the past three months, while Royal Caribbean's stock has lost a more muted 4% of its value.
