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Europe: Travel rebound, Adidas support stocks despite mixed data

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[BENGALURU] European stocks rose on Wednesday, as a rebound in beaten-down travel stocks and gains for Adidas and other sports names took the edge off data that highlighted an uneven path for economic recovery in the euro zone. Read more at The Business Times.

"We expect data to further deteriorate given the new restriction measures put in place... which will impact employment data and keep pressure on both European governments and the ECB in the coming months," wrote Olivier Konzeoue, FX Sales trader at Saxo Markets.

Travel stocks rebounded after a four-day run of losses, with Germany's Lufthansa up 1.6 per cent after news the airline was planning to make rapid Covid-19 antigen tests available to passengers in October. Osram Licht surged 14.1 per cent after Austrian sensor maker ams said it had signed a so-called domination and profit and loss transfer agreement as a key step towards closing its 4.6 billion euro takeover of the German firm.

 

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