LONDON (Reuters) – Recorded European stock market New highs on Tuesday were supported by gains in the travel and real estate sectors, but weak German industrial output data and doubts about Britain’s lifting of restrictions later this month capped gains.
The pan-European Stoxx 600 index closed 0.1 percent higher, after hitting a record high earlier in the session. Gains were led by shares of sectors that are considered more stable, such as real estate and telecom.
The index of travel and leisure companies rose 1.8 percent, supported by gains for low-cost airline EasyJet, after Goldman Sachs raised its recommendation for the stock to “buy.”
But German shares fell 0.2 percent after data showed that industrial output unexpectedly fell in April, in another sign that shortfalls in semiconductors and other bottlenecks in the supply chain are hampering the recovery of Europe’s largest economy.
The stock index of European automakers fell 1.1 percent after a six-session winning streak that brought the index close to its record peak.
The FTSE index of British shares closed higher, supported by a decline in the pound and a 0.4 percent increase in British American Tobacco shares after the tobacco company raised its forecast for annual revenue growth.
Sentiment in global markets is mixed ahead of the European Central Bank’s monetary policy meeting and US inflation data this week.