European shares edge lower ahead of Powell’s speech
- The pan-European STOXX 600 index was down 0.1%
European shares edged lower on Friday as cautious traders awaited Federal Reserve Chair Jerome Powell’s speech for clues on the policy outlook.
The pan-European STOXX 600 index was down 0.1% as of 0702 GMT, but still set for a third consecutive weekly gain.
The Reuters Daily Briefing newsletter provides all the news you need to start your day. Sign up here. Most regional bourses were mixed, with Germany’s blue-chip DAX falling 0.2%.
The German economy contracted by 0.3% in the second quarter of 2025 more than initially expected, the statistics office said, with industrial production performing worse than assumed.
Investors geared up for Powell’s speech at the annual Jackson Hole conference after Fed officials appeared lukewarm to the idea of a rate reduction next month.
The European Union pushed for reduced U.S. tariffs on certain sectors after locking in a trade deal.
The EU said it would work to ensure lower tariffs on car exports applied retroactively from August 1 while continuing to press for a preferential levy on wine and spirits.
Dulux paints maker AkzoNobel rose 4.3% after activist investor Cevian Capital took a 3% stake, according to a a filing by Dutch market regulator AFM.
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