{"id":120051,"date":"2021-08-18T09:12:46","date_gmt":"2021-08-18T09:12:46","guid":{"rendered":"https:\/\/fin2me.com\/?p=120051"},"modified":"2021-08-18T09:12:46","modified_gmt":"2021-08-18T09:12:46","slug":"travel-defensive-stocks-keep-european-shares-steady","status":"publish","type":"post","link":"https:\/\/fin2me.com\/markets\/travel-defensive-stocks-keep-european-shares-steady\/","title":{"rendered":"Travel, defensive stocks keep European shares steady"},"content":{"rendered":"
(Reuters) -European stocks held steady on Wednesday as investors favoured real estate and healthcare stocks over economically sensitive sectors, on rising concerns over a spike in global COVID-19 cases.<\/p> The pan-European STOXX 600 index inched down 0.02%, with automakers and miners falling the most.<\/p>\n Sectors considered more stable during times of economic uncertainty, such as healthcare and real estate rose, while travel and leisure stocks clawed back some losses from earlier this week.<\/p>\n UK shares initially found some relief after data showed British inflation fell to the Bank of England\u2019s 2% target last month in an unexpectedly sharp slowdown.<\/p>\n However, UK\u2019s blue-chip FTSE 100 slipped 0.2% and the FTSE 250 mid-cap index inched up 0.3%.<\/p>\n After opening nearly flat, the German DAX and France\u2019s CAC 40 fell more than 0.2%.<\/p>\n \u201cInflation stepped off the accelerator in July, but this doesn\u2019t mean we\u2019re set for a gentle ride,\u201d said Sarah Coles, personal finance analyst at Hargreaves Lansdown.<\/p>\n \u201cThe underlying pressure on prices, particularly from soaring petrol and second-hand car prices, means it\u2019s set to pick up speed again soon, and may well hit 4% by the end of the year.\u201d<\/p>\n A much stronger-than-expected earnings season and improving economic data in Europe pushed the benchmark STOXX 600 to its longest winning streak in over decade last week. However, pandemic-related worries and uncertainty around central bank actions stalled those gains.<\/p>\n Investors will keep an eye out for the U.S. Federal Reserve\u2019s minutes from the its July policy meeting later in the day, for hints on when it will start tapering its massive asset purchases programme.<\/p>\n Danish brewer Carlsberg rose 2.5% after it raised its full-year earnings outlook and said beer volumes in key markets China and Russia had risen to \u201cwell above\u201d pre-pandemic levels.<\/p>\n Swiss medical device maker Alcon jumped 9% after it lifted its full-year earnings forecast, while online pharmacy chain Zur Rose fell 6.6% after disappointing first-half results.<\/p>\n