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Should I buy these 3 reopening stocks (including this FTSE 100 share) in May?

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Demand for UK shares has risen over the past few weeks as hopes over the economic recovery have picked up. Uncertainty over global activity remains high as the Covid-19 crisis drags on. But it’s possible that investor interest in so-called reopening stocks will continue rising in the days and weeks ahead. These sort of shares stand to gain the most from retreating Covid-19 lockdowns and travel restrictions.

 Should I buy these UK reopening stocks for my ISA in May?

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One of my FTSE 100 favourites

Associated British Foods (LSE: ABF) would be an attractive UK share to buy during any usual economic recovery. But I think the FTSE 100 stock is a particularly great company to buy this time around. Why? Well I think clothing spending is likely to be particularly high following the end of Covid-19 restrictions. This bodes well for this reopening stock’s fast fashion Primark division.

News of huge queues forming outside its storefronts have been plastered all over the papers recently as people have sought to glam up and refresh their wardrobes as they hit the town (and the workplace) again. Indeed, Primark enjoyed record weekly sales in England and Wales during the seven days to 12 April. I think ABF is a great pick for long-term share investors as the business seeks to expand its presence on foreign shores. But bear in mind that rising concerns over sustainability could cause profits growth to disappoint if consumers begin to turn their backs on fast fashion.

Man-made threats

I don’t think Gem Diamonds (LSE: GEMD) is an attractive reopening stock to buy today, however. That’s even though consumer spending is likely to receive a jolt. Buying UK mining shares requires a healthy tolerance of risk as a variety of exploration and production problems can unexpectedly occur. However, in the case of this company I’m chiefly concerned by the soaring popularity of lab-grown diamonds and how this will damage long-term profit. Today Pandora, the world’s biggest jewellery chain, said it will no longer sell mined stones on ethical and environmental concerns. It will sell artificial diamonds only, a move that could be replicated by other major chains before too long.

A better UK reopening stock

I’d be happier buying Wizz Air (LSE: WIZZ) shares for my Stocks and Shares ISA today. Of course this reopening stock also carries its fair share of risks today as Covid-19 infection rates remain buoyant in large parts of Europe. still, I think this UK share has a much brighter long-term future than Gem Diamonds. Firstly, the low-cost airline segment is expected to drive the recovery in the broader aviation sector. Secondly, this particular operator has significant exposure to Central and Eastern European emerging markets, regions where travel spending is growing strongly. Things are also looking up in the shorter term, too, with European Union lawmakers proposing plans to permit inbound travel under certain conditions. It’s possible that the continent’s airways could be buzzing again in a matter of weeks.

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Royston Wild has no position in any of the shares mentioned. The Motley Fool UK has recommended Associated British Foods and Wizz Air Holdings. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors.

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