LONDON — European stocks opened slightly higher on Thursday as investors awaited clues from the U.S. Federal Reserve on future interest rate developments.
The pan-European Stoxx 600 index rose 0.10% in early trading, with the majority of sectors and major bourses in positive territory. Travel and leisure stocks rose 0.44%, while mining stocks fell 0.55%.
This came after the pan-European index ended the day higher on Wednesday, with the majority of sectors in positive territory as markets recovered after ending their winning streak on Tuesday.
Fed minutes released Wednesday showed policymakers moved closer to a long-awaited rate cut during their July meeting, with the vast majority of participants agreeing that a September cut was “likely” if data “continues to be as expected.”
U.S. stock futures traded slightly lower on Thursday morning as investors awaited Fed Chairman Jerome Powell’s speech in Jackson Hole, Wyoming, on Friday.
In Asia, markets were mixed as investors digested economic data from Australia and Japan and awaited PMI numbers from India.
Back in Europe, insurers Swiss Re and Aegon will release their results on Thursday, while the UK and the European Union will release their purchasing managers’ index data.
