Europe opens higher ahead of Jackson Hole summit

Friday, 26. August 2022 08:59

Major stock market indexes in Europe opened higher on Friday ahead of the 2022 Economic Policy Symposium in Jackson Hole, Wyoming, most notably the speech United States Federal Reserve Chair Jerome Powell will give. Previously, the markets on Wall Street reacted similarly in anticipation of the event, surging at the previous day's close. Meanwhile, the newest update on consumer confidence in Germany showed slight improvements concerning economic and income expectations in September.

The DAX opened 0.48% higher as E.ON SE increased by 1.20%. The FTSE 100 advanced by 0.50%, with GSK PLC going up by 2.49%. The CAC 40 grew by 0.61% as Sanofi SA rose by 3.06%.

The euro continued to trade below parity compared to the dollar, going down by 0.25% and selling for $0.99487 at 8:55 am CET. A minute later, the pound sterling lost 0.41% to the greenback to go for $1.17833.

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Author:
Baha Breaking News (BBN) / JR