(new: closing prices, Lufthansa makes offer for Ita Airways)

FRANKFURT (dpa-AFX) - After taking a breather, Lufthansa shares have brilliantly continued their rally that started at the beginning of October. At a peak of 9.285 euros, they reached their highest level since August 2021 on Wednesday, at the same time closing the gap in the share price created at that time. A strong annual financial statement of the U.S. airline United Airlines gave a boost.

Lufthansa shares were up a good five percent at the end of the day, just below the day's high. This was enough for first place in the MDax. The index of mid-sized companies rose by 0.6 percent.

Since the beginning of the year, Lufthansa shares have now gained a good 19 percent. The European travel and leisure sector was also firm at midweek, up 1.1 percent.

United Airlines had significantly exceeded profit expectations and benefited from the recovery in travel. In addition to Lufthansa, shares of other airline groups such as Air France-KLM and IAG therefore also increased.

According to a trader, analysts also expect good figures from airport operator Fraport, which, according to him, should also have given Lufthansa further tailwind. Fraport shares recorded a price increase of almost five percent in the afternoon.

At United Airlines, market expert Andreas Lipkow also pointed out that the recent high kerosene prices had not hurt as much as feared and that the overall increase in costs could be compensated by higher passenger volumes. According to the stock market expert, this could then also be applied to Lufthansa to a large extent.

With regard to the recent price increase of Lufthansa shares, the possible takeover of the Italian airline Ita Airways did not play a role in the middle of the week, according to market participants. The German group got serious in this regard on Wednesday and submitted an offer for the Alitalia successor to the Ministry of Economy and Finance in Rome.

Lufthansa is initially seeking a minority stake, but wants to secure options to acquire the remaining shares as soon as it enters the market. Lufthansa has been trying for decades to gain a foothold in the important market beyond the Alps, which also boasts strong U.S. business. Italy is considered one of the most popular gateways for travelers from the U.S. to Europe./la/mis