Europe: Equities climb at open

EUROPE’S stock markets opened higher on Thursday (Aug 25), mirroring Asian gains on the eve of a speech from Federal Reserve chair Jerome Powell that may hold clues about future US rate hikes.

London’s benchmark FTSE 100 index of major blue-chip companies won 0.6 per cent to 7,516.33 points, compared with the closing level on Wednesday.

In the eurozone, Frankfurt’s DAX index added 0.8 per cent to 13,330.51 points following news of slender German economic growth in the second quarter.

The Paris CAC 40 advanced 0.6 per cent to stand at 6,427.86.

Central bankers are meeting in Jackson Hole in the US state of Wyoming this week, and all eyes are on Powell’s Friday speech for clues about Fed plans to tame runaway inflation. AFP