European Shares Steady Amid Economic Concerns and Anticipated Powell Speech
European shares slightly declined as traders awaited Federal Reserve Chair Jerome Powell's speech for insights on policy direction. Despite the drop, the STOXX 600 index aimed for a third weekly gain. The German economy contracted more than expected, while AkzoNobel shares rose due to investment news.
In a quiet trading day, European shares edged lower as markets exhibited caution ahead of Federal Reserve Chair Jerome Powell's upcoming speech, seeking guidance on future policy directions. The pan-European STOXX 600 index experienced a minor dip of 0.1% early Friday but maintained its course for a third consecutive weekly gain.
Germany's economic performance weighed heavily on investor sentiment. The DAX index fell by 0.2% following data revealing a 0.3% contraction in the German economy during the second quarter of 2025, driven by weaker-than-expected industrial production.
In corporate news, shares of Dulux paints maker AkzoNobel jumped 4.3%. This followed the announcement that activist investor Cevian Capital acquired a 3% stake in the company, as officially reported by the Dutch market regulator, AFM.
(With inputs from agencies.)
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