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European Shares Rise on Evergrande Relief, Ahead of Fed Meeting | Investing News

By Sruthi Shankar and Shreyashi Sanyal

(Reuters) -European stocks rose on Wednesday after debt-laden developer China Evergrande said it would make some interest payments, while investors awaited a signal from the U.S. Federal Reserve on how and when it will rein in its massive stimulus.

Evergrande’s Frankfurt-listed shares jumped 41.0% after hitting multi-year lows in the previous session.

The property developer said it would make a coupon payment on its domestic bonds, offering relief to investors worried about payments default following financial troubles.

“It’s been another positive session for European stocks, as concerns about fallout from Evergrande continue to diminish, after this morning’s agreement on some of its domestic bond coupons,” said Michael Hewson, chief market analyst at CMC Markets.

“Despite this little wrinkle, markets appear to be working on the assumption that the problem has been contained, let’s hope they are right.”

The travel & leisure index rose 2.5%

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Inflation Woes, Travel Stocks Drag Europe Shares Lower | Investing News

(Reuters) – European shares slipped from record highs on Wednesday as global investor mood soured on signs of increasing inflationary pressure, while travel stocks dropped on worries over the Delta variant’s spread in the continent.

The pan-European STOXX 600 index fell 0.3% after hitting a record high in the previous session.

Travel & leisure slid 0.8%, with TUI shedding 2.9% on reports that the world’s largest holiday company had cancelled more holidays until August.

UK’s FTSE 100 dropped 0.4% on a stronger pound after data showed British inflation jumped to 2.5% in June, further above the Bank of England’s target and hitting its highest since August 2018.

“The creeping UK headline inflation rate is likely to add to the sense of unease pervading the financial markets about the impact higher prices will have on economies around the world,” said Susannah Streeter, a senior investment and markets analyst at Hargreaves Lansdown.

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Travel + Leisure Honors Those Making Strides In Responsible Travel And Sustainable Living | News

NEW YORK, March 18, 2021 /PRNewswire/ — Meredith Corporation‘s (NYSE: MDP) Travel + Leisure announces the 30 honorees of its Global Vision Awards 2021, recognizing changemaking individuals, companies and organizations that are creating more sustainable and responsible travel products, practices, and experiences. Spotlighting meaningful efforts to preserve, enrich and change the traveler’s world for the better, the Global Vision Awards are featured in the April issue of Travel + Leisure and at travelandleisure.com/globalvision.

Travel + Leisure Editor in Chief Jacqui Gifford said in her April issue Editor’s Letter, “The mission of the Global Vision Awards has never been more relevant. Everything we love about travel—the broadening of perspective it brings, the exposure to new ideas and people, to unfamiliar tastes and sounds and smells—remains the same. What has shifted, or perhaps accelerated, since the start of the pandemic is our understanding that there is no more time

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Adidas, Telecoms Help European Stocks Eke Out Gains | Investing News

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

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