European shares rise ahead of key US, euro zone data
For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window
UBS up after Q2 net profit beat
Flutter jumps on lifting full-year outlook
U.S. CPI due at 1230 GMT
STOXX 600 up 0.3%
Updated at 0822 GMT
By Pranav Kashyap
Aug 14 (Reuters) -European shares rose on Wednesday, as investors awaited key data from the U.S. and the euro zone, while a raft of upbeat corporate updates lifted risk appetite.
The pan-European STOXX 600 .STOXX was up 0.3% to trade near a two-week high, as of 0822 GMT. All regional bourses were trading in positive territory.
The travel and leisure sub-index .SXTP gained 3.2%, the most among sectors, lifted by a 10.3% surge in Flutter FLTRF.L after the world's largest online betting firm raised its full-year outlook following a better-than-expected second quarter.
Investor sentiment was boosted following data released on Tuesday, which showed U.S. producer prices rose less than anticipated in July. This reinforced market view that cooling inflation will prompt the Federal Reserve to cut interest rates soon.
U.S. consumer prices data, due at 1230 GMT, will be parsed for clues on the health of the world's largest economy after slowdown fears hurt risk assets globally earlier this month.
Also on investors' radar will be flash employment and GDP estimates for the euro zone, set to be released at 0900 GMT.
"Investors are very jumpy with every data release because they're asking is this just a gradual slowdown or is it the beginning of a recession," Thomas Gehlen, senior market strategist at SG Kleinwort Hambros said.
"Volatility is going be elevated and prices are going to remain sensitive to macroeconomic releases over the next couple of weeks."
The U.S data will be a significant macroeconomic catalyst - a factor absent in the previous week which contributed to the muted performance of the STOXX 600.
Meanwhile, Britain's consumer price inflation rose to 2.2% after two months at the Bank of England's 2% target. Economists polled by Reuters had forecast a 2.3% jump.
London's benchmark FTSE 100 .FTSE ticked up 0.4%.
In Europe, basic resources .SXPP lost 1.4% as base metals prices came under pressure due to a bigger-than-expected drop in Chinese lending that worsened sentiment. MET/L
Switzerland's largest bank UBS UBSG.S gained 2.5% after it posted a net profit of $1.14 billion for the second quarter, comfortably surpassing analysts' forecast.
Straumann STMN.S soared 13.7% after the dental implant maker announced the sale of its DrSmile aligner business and also raised its full-year outlook.
Thyssenkrupp TKAG.DE lost 4.2% after the submarine-to-steel group swung to a net loss in its third quarter due to higher-than-expected costs.
Reporting by Pranav Kashyap in Bengaluru; Editing by Sherry Jacob-Phillips and Mrigank Dhaniwala
Related Assets
Latest News
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.
