Travel stocks fall in Europe as inflation fears escalate

European shares slipped from their peak on Wednesday, worries about inflation weighed on global sentiment, while travel stocks fell on worries about the spread of a “delta” strain on the continent.
By 07:08 GMT, the pan-European Stoxx 600 index fell 0.2 percent, the travel and leisure sector shares fell by about one percent, and the share of the travel company “TOI” fell 4.2 percent.

The British FTSE 100 index lost 0.4 percent due to the strength of the sterling, after data showed that inflation in Britain exceeded the target rate in June.

Markets were worried after data on Tuesday showed that US inflation rose more-than-expected in June, prompting many traders to factor in the possibility of a US interest rate hike earlier than expected.

German fashion house Hugo Boss rose 4.4 percent, after it forecast revenue growth of 30 to 35 percent this year.

Source: Reuters