European Shares Surge Ahead of Key Economic Data Releases

European shares experienced an uptick on Wednesday as investors awaited key economic data releases from the U.S. and the euro zone. A series of positive corporate updates helped bolster risk appetite among market participants.

The pan-European STOXX 600 index rose by 0.3%, nearing a two-week high as of 0822 GMT. All regional bourses showed gains, with the travel and leisure sub-index leading the way with a 3.2% increase, buoyed by a significant 10.3% surge in Flutter shares after the company raised its full-year outlook.

The optimism was fueled by Tuesday's data, which indicated that U.S. producer prices rose less than expected in July, suggesting a potential cut in Federal Reserve interest rates. Investors are also closely monitoring U.S. consumer prices data and euro zone employment and GDP estimates for further economic insights.

(With inputs from agencies.)