European markets close higher amid mixed global market sentiment; Tui shares fall 6%

cnbc_LONDON — European stocks closed slightly higher on Wednesday amid more mixed sentiment globally overnight, as investors digested a slew of corporate earnings

The pan-European Stoxx 600 provisionally ended 0.35% higher, with most sectors and major bourses in positive territory. Food and beverage stocks gained 1.9% to lead gains, while travel and leisure stocks slipped more than 1%

It comes after a series of upbeat trading sessions in recent days as investors digested the latest earnings from the U.S

On Tuesday, U.S. stock indexes gained as major companies continued to report strong third-quarter earnings, easing concerns that persistent Covid cases and rising costs would derail corporate America’s profit recovery. Of the S&P 500 components that have reported thus far, 82% have topped expectations, according to FactSet

Still, while reports have been strong, investors are looking for more clues from corporate America about supply chain issues and how soon these can be resolved, as well as inflation. U.S. stock index futures were flat during premarket trading on Wednesday

Meanwhile, shares in Asia-Pacific were mixed on Wednesday as China kept its benchmark lending rate unchanged. Investors in the region were also reacting to the latest report from the International Monetary Fund (IMF) on Tuesday in which it slashed its 2021 economic growth forecast for Asia. The IMF now expects the region to grow by 6.5% this year, as compared to its April forecast for a 7.6% expansion

On the data front in Europe, British inflation slowed unexpectedly in September, rising 3.1% in annual terms after a 3.2% climb in August, the Office for National Statistics said on Wednesday