European shares inch up, Switzerland underperforms
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EUROPEAN SHARES INCH UP, SWITZERLAND UNDERPERFORMS
Most major European equity markets are in the green on Friday before Fed Chair Powell's Jackson Hole speech, but Switzerland's SMI underperforms as Nestle shares dipped on a key personnel change.
The pan-European STOXX 600 .STOXX is up 0.1%, taking weekly gains to about 1%. The index has risen for 12 of the last 14 trading sessions since tumbling in early August to its lowest since January.
Britain's FTSE 100 .FTSE, Germany's DAX .GDAXI and France's CAC 40 .FCHI all trade higher by 0.2%-0.3%.
Switzerland's main index .SSMI lags peers as Nestle NESN.S shares fall over 2% after the world's biggest food maker announced the abrupt departure of its CEO Mark Schneider, who is set to be replaced by company veteran Laurent Freixe.
Attention now turns to Powell's speech at Jackson Hole for hints on when the Fed will cut rates and by how much.
BoE Governor Andrew Bailey will also be talking at the event later on Friday.
Here's your opening snapshot:
(Samuel Indyk)
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FRIDAY'S OTHER LIVE MARKETS POSTS:
EUROPEAN FUTURES HOLD THEIR BREATH BEFORE POWELL CLICK HERE
BOJ'S UEDA BOLSTERS YEN. UP NEXT, POWELL CLICK HERE
Japan's core-core inflation dips below 2% https://reut.rs/4cDV24c
Graphic-Stocks on Powell's Jackson Hole speech days https://reut.rs/3AssQE1
European equities mostly higher, Switzerland lags https://reut.rs/3T1CDHT
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