One year after Covid Crash, pandemic losers are the new winners

(Bloomberg) – A year after Covid-19 reshuffled world markets, which sparked a brutal sell-off for many stocks and created new lockdown favorites, the prospect of vaccine-induced reflation is turning the tide for major stragglers of the pandemic on hardest hit in the early days of the crisis helped equity benchmarks hit near record highs around the world. Among the companies that have grown the most are European tour operator TUI AG and the owner of US shopping mall Simon Property Group Inc .: “These latecomers have great opportunities,” said Hani Redha, portfolio manager at PineBridge Investments, regarding shares in airlines, cruise lines and hotels. “We’re more optimistic that there will be a lot more normality than you might think.” The growing optimism among investors about the end of month-long lockdowns and travel restrictions may also …

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