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- Nearly all sectors and major indices in Europe trade in positive territory
Nearly all sectors and major indices in Europe trade in positive territory
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Loading...The pan-European Stoxx 600 climbed 0.5% early in the session, technology stocks leading gains with a 1% rise as nearly all sectors and major bourses traded in positive territory.
Investors will be watching Powell’s speech at the central bank’s Jackson Hole symposium late on Friday for hints of future interest rate cuts. Dallas Federal Reserve Bank President Robert Kaplan told that he would like to avoid cutting rates in September, but has an “open mind.”
The Group of Seven (G-7) annual summit begins on Saturday in France, bringing together the leaders of Britain, Canada, France, Germany, Italy, Japan and the United States, and is expected to end without a joint communique for the first time in its 44-year history due to deepening rifts between the heads of state.
Brexit will also be high on the agenda, after U.K. Prime Minister Boris Johnson met with German Chancellor Angela Merkel and French President Emmanuel Macron this week for talks.
Macron on Thursday signaled confidence that a solution could be found regarding a slightly amended withdrawal agreement, but reiterated that the backstop for the Republic of Ireland-Northern Ireland border is “indispensable.”
Italian President Sergio Mattarella said several parties had indicated that they need more time to work out a solution to the ongoing government crisis, and will report back early next week. Luigi di Maio, leader of the anti-establishment Five Star Movement (M5S), said his party is working to avoid snap elections.
Source: CNBC
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