European shares inch higher as investors weigh Middle East conflict

European shares ticked up on Wednesday as investors took ‌a breather after a global equities rout that pushed the benchmark index to more than one-month lows, amid concerns about a widened and ​prolonged conflict in the Middle East. The pan-European STOXX 600 (.STOXX), opens new tab ​was up 0.6% at 607.62 points by 0810 GMT. ⁠The index has shed nearly 5% since hitting a record ​high on Friday. Get a daily digest of breaking business news straight to your inbox with the Reuters Business newsletter. Sign up here. Travel (.SXTP), opens new tab and luxury stocks, which were at the forefront ​of the sell-off, were up more than 1% each. Advertisement · Scroll to continue   Technology (.SX8P), opens new tab and healthcare (.SXDP), opens new tab names were the biggest boost for the index. Traders sit at their desks in front of the DAX board at the Frankfurt stock exchange Traders sit at their desks in front of the DAX board at the Frankfurt stock exchange, Germany, June 29, 2015. European shares took a hammering in early deals on Monday, with Southern European banks especially badly hit, after Greece closed its banks and imposed capital controls as a result of its debt problems. Germany's DAX and... Purchase Licensing Rights, opens new tab Read more Meanwhile, Israeli and U.S. forces continued pounding targets across Iran that started from Saturday, prompting retaliatory strikes from Tehran across U.S. allies in the Gulf region, which have hit establishments ranging from ​oil refineries to ​U.S. embassies. Brent Crude ⁠climbed nearly 2%, although prices retreated from peaks after U.S. President Donald Trump ordered an ​insurance guarantee for Gulf shipping and said the ​U.S. Navy ⁠could escort oil tankers through the Strait of Hormuz. Still, the oil sector (.SXEP), opens new tab declined for the second straight session, down 0.6%. Advertisement · Scroll to continue Among other ⁠stocks, Adidas (ADSGn.DE), opens new tab shed ​6% following the sports giant's results. On ​the macro front, the euro zone PMI for February is due later in ​the day.