LONDON — European stocks inched higher on Tuesday, looking to break out from a cautious approach seen globally at the start of the week.
TICKER COMPANY NAME PRICE CHANGE %CHANGE VOLUME
.FTSE FTSE 100 FTSE 7140.23 7.93 0.11 26161819
.GDAXI DAX DAX 15774.10 28.69 0.18 3289267
.FCHI CAC 40 Index CAC 6826.89 13.71 0.20 3254850
The pan-European Stoxx 600 climbed 0.3% in early trade, with travel and leisure stocks adding 1.8% to lead gains as most sectors and major bourses entered positive territory.
The cautious optimism in Europe reflects similar sentiment emerging in Asia-Pacific, where shares tentatively rose in Tuesday trade while South Korean game developer Krafton plunged in its debut.
Worries about the impact of Covid on global growth continued to weigh on investor sentiment, with countries grappling with the spread of the highly transmissible delta variant of the virus.
nsmissible delta variant of the virus.
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U.S. stock futures were little changed on Tuesday morning after the Dow Jones Industrial Average and S&P 500 fell from record highs in regular trading amid concerns about a resurgence in Covid-19 cases.
Energy stocks led the declines on Monday after oil prices fell 4% amid fears that a wave of Covid cases could lead to a demand slowdown. Recovery plays including Norwegian Cruise Line and United Airlines were down as well.
Two Federal Reserve officials indicated that the pace of the U.S. recovery and elevated inflation could prompt discussion about the central bank starting interest rate hikes.
Investors will be looking out for the latest U.S. consumer price index and producer price index data, both of which measure inflation and are scheduled to come out Wednesday and Thursday, respectively.
Data releases in focus in Europe are Germany’s ZEW survey of Economic Sentiment for August and British retail sales in July.
European companies reporting earnings on Tuesday included HelloFresh, Munich Re, ABRDN and InterContinental Hotels Group.
Deliveroo shares climbed 3.7% to lead the Stoxx 600, continuing to climb after announcing on Monday that Delivery Hero had taken a stake in the company.
Dutch chemicals company Corbion plunged more than 8% after reporting a drop in first-half profits and cutting its outlook.
