August 23, 2019 / 7:29 AM / a year ago

European shares grind higher ahead of Powell speech

(For a live blog on European stocks, type LIVE/ in an Eikon news window)

Aug 23 (Reuters) - European shares inched higher early on Friday, with all eyes on a speech by Federal Reserve Chief Jerome Powell for confirmation the the U.S. central bank is still on course to deliver another cut in interest rates next month.

The highly-anticipated address at the Jackson Hole symposium is due at 1400 GMT and follows minutes from the Fed’s July meeting which have cooled money market expectations of a bigger half-point cut next month.

Some more encouraging data points this week have also helped ease market fears of recession - the main driver of a sell-off in the first half of August as well as of expectations that the Fed and other central banks would respond with more easing.

The pan-European STOXX 600 index rose 0.5% at 0710 GMT, rebounding from a fall on Thursday due to by mixed readings of business growth across major economies and as a jump in the pound slammed London stocks.

The FTSE 100 index also rose 0.5%, while the euro-zone benchmark gained 0.6% and outperformed the market.

SimCorp A/S jumped 7.7%, and was the biggest gainer on the benchmark index, after the software company upgraded its financial forecast for 2019. (Reporting by Shreyashi Sanyal in Bengaluru; editing by Patrick Graham)

Nuestros Estándares:Los principios Thomson Reuters
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below