European Shares Rise Ahead of Data

European stocks rose Wednesday, August 25th, and travel stocks rose for the fourth day in a row, while markets globally moved within a narrow range ahead of a policy update from the US Federal Reserve at the end of the week.

The STOXX 600 index of European shares rose 0.1% by 07:17 GMT after a record close on Wall Street.

The European index is less than 1% below its peak, while travel and leisure stocks gained 0.7% to hit their highest level in more than a week.

Data from the German Ifo institute showed another decline in business confidence in August after an unexpected drop in July due to concerns about the increasing number of Covid-19 infections and supply chain problems.