Investors are awaiting a speech by US Federal Reserve Chairman Jerome Powell at the annual economic symposium in Jackson Hole. Powell is expected to reiterate the US central bank’s commitment to rapidly raising rates to curb inflation.
Also in the spotlight is the news that British energy market regulator Ofgem will raise its electricity bill cap by 80% to £3,549 a year in October, after raising it by 54% in April.
The composite index of the largest companies in the region Stoxx Europe 600 by 10:59 Moscow time increased by 0.09% and amounted to 433.77 points.
The German DAX index rises by 0.32%, the French CAC 40 – by 0.27%, the British FTSE 100 – by 0.47%. The Italian FTSE MIB and the Spanish IBEX 35 are up 0.31% and 0.41% respectively.
French consumer confidence rose unexpectedly to 82 in August from 80 in July, the lowest level since June 2013. The indicator rose for the first time in eight months. Analysts on average predicted the indicator at the level of 79 points, writes Trading Economics.
Leading index of consumer confidence in Germany, calculated by the research company GfK, fell to a minimum since 1991, due to concerns about rising energy prices.
The value of the September index fell to minus 36.5 points compared to minus 30.9 points a month earlier. Analysts on average predicted a decline to minus 31.8 points, according to Trading Economics.
Shares of SAS AB rise in price by 1%. The Scandinavian airline increased its net loss in the third quarter of fiscal year 2022 due to flight cancellations and pilot strikes.
The price of Deutsche Lufthansa AG shares increases by 0.2%. The German carrier intends to continue talks with the union representing the company’s pilots amid wage disputes that threaten the company with strikes. Meanwhile, the union has already begun preparations for a strike.
Among the growth leaders in the composite regional index are traded shares of SKF AB, which produces health and hygiene products, (+6.2%), the Swedish oil and gas Orron Energy (+4.9%) and the Swiss online pharmacy Zur Rose Group AG (+ 3.8%).
