News

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.

Read More

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

Read More

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

Read More

European Shares Fall on Rising Yield; Miners, Tech Top Drags | Investing News

(Reuters) – A three-day rally in European stocks was clipped on Thursday as a renewed jump in U.S. bond yields hit risk appetite, with heavyweight miners and technology stocks leading the retreat.

The pan-European STOXX 600 index fell 0.5%, with miners dropping 3.4%. UK-listed shares of Rio Tinto and BHP Group shed 5.9% and 5.0% respectively, after their Australia-listed stocks were hit by ex-dividend trading.

Technology stocks, the driver of the market’s rebound from pandemic lows, fell close to 2% on overnight weakness in their Wall Street peers as rising yields turned the spotlight on frothy valuations.

Dutch firm ASML Holding NV dropped 3.1% despite news that it had extended a deal to sell chip manufacturing equipment to China’s largest chipmaker SMIC.

“While one can understand why investors are concerned about valuations in the U.S., particularly around the tech sector… the same can’t be said in Europe where valuations are

Read More