LONDON – European markets were shut down on Wednesday, following global sentiment as investors await a key meeting of central bankers.
The pan-European Stoxx 600 rose 0.15% more in early business, with travel and leisure stocks adding 1.4% to gain advantages, while utility companies fell 0.5%.
Shares in the Asia-Pacific fell similarly in Wednesday’s trading session, while US equities futures pointed to an open plan on Wall Street after the S&P 500 and Nasdaq 100 were record highs on Tuesday.
This week, global investors are focusing on the Fed’s Jackson Hole symposium, which takes place virtually Thursday, as policymakers could detail their plans to reduce the central bank’s bond-buying program by $ 120 billion in month. Fed Chairman Jerome Powell will deliver a speech Friday.
Global action has strengthened so far this week, allaying fears that the Fed is imminently reduced and full approval by the U.S. Food and Drug Administration for Pfizer’s Covid-19 vaccine. and BioNTech.
Back in Europe, German business morale fell in August. The Ifo Institute’s business climate index stood at 99.4, below Reuters ’consensus forecast of 100.4 and down from a revised 100.7 in July.
In the UK, retailers reported the sharpest rise in spending for nearly seven years in August, but inventories fell to record lows, putting pressure on prices, data showed on Tuesday. of the British Confederation of Industry (CBI).
WHO Director-General Tedros Adhanom Ghebreyesus will hold a press conference on Wednesday to document the latest developments in the Covid-19 pandemic.
In terms of individual stock price movement, Swedish radiotherapy equipment maker Elekta fell more than 6% to the bottom of the Stoxx 600 after losing first-quarter operating profit expectations.
At the top of the index, Stadler Rail rose 4.9% after rising first-half net profit and confirming its full-year outlook.
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