European shares slipped on Wednesday from near one-week highs touched in the previous session, as investors treaded cautiously ahead of the US Federal Reserve’s interest rate decision.
The region-wide STOXX 600 was down 0.4% at 0814 GMT.
The index had rallied more than 1% on Tuesday as equities globally received a boost from softer-than-expected US inflation data that raised hopes of the Fed shifting to smaller rate hikes. On Wednesday, most of the STOXX 600 sectors declined.
Travel and leisure stocks’ 1.1% fall led the slide, followed by tech stocks, which slipped 0.8%.
European shares climb on US inflation data
Energy was a bright spot, rising 0.3%, while banks also gained.
TUI, the world’s largest holiday firm, swung to a profit in its last financial year.
Still, London-listed shares of the company were down 4.8% to be the top losers on the STOXX 600.
Comments
Comments are closed.