Source: Sharecast
The pan-regional Stoxx 600 was up 0.32% to 560 at 1149 BST. Germany’s DAX gained 0.15% and France’s CAC 40 rose by 0.27%.
Fed chief Powell delivers his last speech to the Jackson Hole gathering of world central bankers later in the day.
“While he may stick to a ‘data dependent’ message, the venue has historically hosted major policy shifts. Markets are alert to any surprise, and there is a greater chance that we will see a hawkish surprise than the contrary,” said Swissquote Bank analyst Ipek Ozkardeskaya.
“A cautiously hawkish tone from Powell could further unwind the market’s extra-dovish positioning. That could mean a rebound in US 2-year yields, pressure on the S&P 500, a stalling of the small-cap rally, and renewed strength in the US dollar.”
In economic news, the German economy contracted by a more-than-expected 0.3% in the second quarter of 2025, according to official data. more than initially expected, the statistics office said, with industrial production performing worse than assumed.
In equity news, Polish banks slumped as the country’s government revealed plans to raise a range of taxes on banks and alcohol in an effort to bolster revenue in next year’s budget and support spending on defense and social benefits.
AkzoNobel rose 4.3% after activist investor Cevian Capital took a 3% stake, according to a filing by Dutch market regulator AFM.
Reporting by Frank Prenesti for Sharecast.com
