Travel And Tourism Sectors Push European Shares to a Record Peak

European shares hit a record high Tuesday, August 10, extending gains for the seventh consecutive session, boosted by travel and leisure companies as investors welcomed reports of strong results.

The STOXX 600 index of European shares rose 0.2%, hitting an all-time high of 471.67 points.

The travel and entertainment sector recorded the largest percentage gain, and Flutter Entertainment rose 4.8% after the largest online betting group announced that first-half results beat expectations and that it expects to turn its US business to profitability by 2023.

Berlin-based food company Hello Fresh added 1% after reporting strong growth in the second quarter, thanks to increased customer numbers and continued high order rates to support sales.