Investors were in the mood to buy the stock after Europe's biggest travel operator delivered positive news.

TUI said it expects operating profit to jump by a quarter next year.

The rise comes after profit more than doubled this year on strong demand for holidays, cruises and hotel stays.

The firm posted underlying profit of $1.1 billion for the year ended September 30 - above 2019, pre-health crisis levels.

TUI said Wednesday its bookings were strong for this winter and next summer.

And that gave it confidence operating profit would grow by at least 25% this financial year, with revenue at least a tenth higher.

This year, TUI and its rivals have seen big demand as consumers travel after the health crisis.

But war in the Middle East and the threat of recession have led to analyst warnings profits may have peaked.

TUI also announced a potential blow to the UK.

The firm said it has considered delisting from the London Stock Exchange and having a single German listing.

It said it made sense to consider a move as more than three quarters of TUI's shares are held by German investors.

While three quarters of trading in its stock was on that market.