Actions touch new heights; Real estate and travel sectors lead the gains – 06/08/2021

Actions touch new heights;  Real estate and travel sectors lead the gains - 06/08/2021

Pur Sruthi Shankar and Shreyachi Sanyal

(Reuters) – European shares hit new highs on Tuesday, boosted by travel and real estate companies, but weak data on German industrial production and doubts about lifting restrictions in the United Kingdom this month limited gains.

The FTSEurofirst 300 Index rose 0.08% to 1,749 points, while the European STOXX 600 Index rose 0.1% to 454 points, after touching a record during the session.

Sectors considered more stable, such as real estate and telecommunications, led the gains.

The travel and leisure sub-index jumped 1.8%, buoyed largely by gains in low-cost carrier EasyJet, as Goldman Sachs recommended the stock.

German stocks closed lower after data showed an unexpected drop in industrial production in April, another sign that semiconductor shortages and other supply bottlenecks are hampering the recovery in Europe’s largest economy.

Investor fears were also fueled by news in The Times that the next phase of UK lockdown easing could be delayed by 15 days amid fears of the spread of new Covid-19 variants.

In London, the FTSE added 0.25% to 7,095.09 points.

In Frankfurt, the DAX fell 0.23% to 15,640.60 points.

In Paris, the CAC 40 rose 0.11% to 6,551.01 points.

In Milan, the Ftse/Mib index fell 0.06% to 25,809.16 points.

In Madrid, the Ibex-35 index fell 0.11% to 9,153.60 points.

In Lisbon, the PSI20 index fell 0.53% to 5,112.24 points.

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"Friendly zombie guru. Avid pop culture scholar. Freelance travel geek. Wannabe troublemaker. Coffee specialist."

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