Europe opens mostly higher ahead of Fed's annual symposium

Thursday, 27. August 2020 09:01

Stocks on the major European markets traded mostly higher at the session's open on Thursday, as the investors awaited the start of the Jackson Hole summit later in the day. Federal Reserve Chair Jerome Powell is scheduled to deliver remarks and announce a new tool aimed at counteracting the coronavirus pandemic's negative economic impact.

In other news, the European Commissioner for Trade Phil Hogan resigned his post the previous day, amid criticism caused by his attendance at a dinner with 80 other guests present, despite the restrictions put in place to prevent the spread of COVID-19.

The DAX rose 0.11% at the open with Infineon Technologies leading the gains. The CAC 40 was up 0.08% as the session started as Bouygues advanced 2.26% at 9:02 am CET. Meanwhile, in London, the FTSE 100 opened the session flat. Both the euro and the pound sterling stood flat versus the dollar at 9:07 am CET, selling for $1.18246 and $1.32050 respectively.

Less than ten minutes into the session, all three major indexes turned to losses.

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Breaking the News / BU