Travel and leisure stocks lift European shares, focus on inflation data
(Reuters) — European shares rose on Tuesday led by technology and travel and leisure stocks, with investors gearing up for an inflation print out of the euro zone to gauge when interest rate cuts might begin next year.
The pan-European STOXX 600 gained 0.3% by 0818 GMT, after a retreat on Monday.
Investors now await the euro zone's final November inflation print due during the day, while keeping an eye out for the U.S. personal consumption expenditure data later this week after the Federal Reserve's dovish shift recently boosted bets of nearing rate cuts, steering strong gains in stocks globally.
Among individual stocks, UBS added 1.6% after activist investor Cevian Capital took a 1.3% stake in the bank.
Covestro gained 2.4% following a report that the Abu Dhabi National Oil Co was preparing to raise its offer for the German chemicals maker.
Norwegian energy group Equinor lost 1.6% after RBC downgraded the stock's rating to «Sector Perform» from «Outperform».
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