UBS up after Q2 net profit beat
Flutter jumps on lifting fullyear outlook
U.S. CPI due at 1230 GMT
STOXX 600 up 0.3

Aug 14 Reuters European shares rose on Wednesday, as investors awaited key data from the U.S. and the euro zone, while a raft of upbeat corporate updates lifted risk appetite.

The panEuropean STOXX 600 was up 0.3 to trade near a twoweek high, as of 0822 GMT. All regional bourses were trading in positive territory.

The travel and leisure subindex gained 3.2, the most among sectors, lifted by a 10.3 surge in Flutter after the world39;s largest online betting firm raised its fullyear outlook following a betterthanexpected second quarter.

Investor sentiment was boosted following data released on Tuesday, which showed U.S. producer prices rose less than anticipated in July. This reinforced market view that cooling inflation will prompt the Federal Reserve to cut interest rates soon.

U.S. consumer prices data, due at 1230 GMT, will be parsed for clues on the health of the world39;s largest economy after slowdown fears hurt risk assets globally earlier this month.

Also on investors39; radar will be flash employment and GDP estimates for the euro zone, set to be released at 0900 GMT.

Investors are very jumpy with every data release because they39;re asking is this just a gradual slowdown or is it the beginning of a recession, Thomas Gehlen, senior market strategist at SG Kleinwort Hambros said.

Volatility is going be elevated and prices are going to…