Skift Take
Anybody not taking the Covid variants severe because of vaccines, better alter their thinking. It appears like travel investors have.
Tom Lowry
European stocks slipped from peaks on Wednesday, as the global mood soured on increasing issues about inflation, while travel stocks dropped on stress over the Delta variation’s spread in the continent.
The pan-European STOXX 600 index fell 0.2% by 0708 GMT. Travel & leisure slid practically 1%, with shares in travel company Tui decreasing 4.2%.
UK’s FTSE 100 slipped 0.4% on a stronger pound after data showed British inflation jumped even more above the Bank of England’s target in June.
Markets were already jittery after information on Tuesday showed U.S. inflation ran hotter than anticipated in June, leading lots of traders to cost in faster U.S. rates of interest hikes.
Swedish telecoms operator Tele2 gained 3.7% after it reported an increase of 8% in quarterly core earnings, helped by cost savings and less headwinds associated with the pandemic. nL4N2OP3PI.
German fashion house Hugo Boss increased 4.4% after it anticipated its revenue to grow by 30% to 35% this year.
(Reporting by Sruthi Shankar in Bengaluru; editing by Uttaresh.V)
This article was from Reuters and was legally accredited through the Industry Dive publisher network. Please direct all licensing concerns to legal@industrydive.com.
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