By Sruthi Shankar and Devik Jain
(Reuters) – Europe’s main index hovered near pre-pandemic highs on Wednesday, as a rise in shares of Adidas after an upbeat sales forecast and gains in telecoms stocks outweighed losses in mining and travel sectors.
The pan-European STOXX 600 index edged 0.2% higher after a rally in technology stocks on Tuesday pushed the benchmark to its highest level since February 2020.
Miners, retailers, and travel and leisure companies led the declines in Europe, while telecoms jumped 1.0%.
German sportswear maker Adidas AG jumped 3.4% after it forecast a strong rebound in sales in 2021, particularly in China, the rest of Asia and Latin America following fourth-quarter results.
European markets recorded a strong start to March, with the German DAX hitting an all-time high as investors snapped up so-called cyclical stocks like banks and oil firms on hopes of a strong economic rebound from the