European Equities on Edge Ahead of Fed's Jackson Hole Symposium
European equities were subdued as attention turned to the Federal Reserve's Jackson Hole symposium. Central bankers globally, including Fed Chair Jerome Powell, were anticipated to signal potential rate cuts. The STOXX 600 index remained flat, while defence stocks rose slightly. Notable market movements included WH Smith's plunge and Aegon's gains.
European equities remained largely subdued on Thursday, with investor focus sharply directed towards the Federal Reserve's Jackson Hole symposium. Awaiting updates that could signal the trajectory of monetary policy, the pan-European STOXX 600 index showed little movement, while major European bourses presented a mixed picture.
Global central bankers converged at the symposium, with a significant emphasis on Fed Chair Jerome Powell's remarks. Analysts like Daniela Hathorn of Capital.com noted the delicate timing for global markets, which are on edge for dovish signals amidst rising inflation and geopolitical tension.
Despite improvements in euro zone business orders, thanks to the PMI increase, market support remained cautious due to U.S. tariff uncertainties. Defence and other sector stocks showed varied performance, with WH Smith's shares notably dropping due to an accounting error, in contrast to Aegon's promising financial update linked to share buybacks.
(With inputs from agencies.)
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