Europe: Equities rise before Powell speech

EUROPE’S stock markets opened higher on Friday (Aug 26) as investors looked to an eagerly-awaited speech from Federal Reserve Chair Jerome Powell for fresh clues on rising US interest rates.

London’s FTSE 100 shares index rose 0.6 per cent to 7,526.50 points, despite news that UK domestic energy bills will rocket even higher as the cost of living crisis worsens.

In the eurozone, Frankfurt’s DAX index added 0.5 per cent to 13,333.87 points and the Paris CAC 40 advanced 0.5 per cent to 6,415.07, compared with the closing level on Thursday. AFP