European shares opened higher, supported by gains in the travel sector

European stocks opened higher on Tuesday, supported by gains in the travel sector, after TUI Tourism Group expected a recovery in the travel sector for the next summer season.

The pan-European Stoxx 600 index was up 0.3 percent by 0812 GMT. European travel and leisure stocks rose 0.6 percent.

Germany-listed TUI rose 1.4 percent, with its London-listed shares rising 1.5 percent after the company reported more bookings and higher first-quarter revenue.

Germany’s DAX lags behind its European peers, dragged down by a 5.3 percent drop in ThyssenKrupp after the German warship parts group said its quarterly operating profit fell by a third.

However, the focus remains on the US inflation data for January, which is due to be released on Tuesday, which will provide more clarity on the steps of the Federal Reserve (the US central bank) to raise interest rates.

In Europe, the preliminary reading of GDP for the fourth quarter is also closely watched.