European stocks lower ahead of Powell speech, banks weigh

The pan-European STOXX 600 index slipped 0.2 per cent by 0716 GMT, with banks and miners leading the losses.

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Tech stocks extended gains after another record-setting session on Wall Street.
A cautious mood prevailed in European equity markets on Thursday as investors looked ahead to the U.S. Federal Reserve Chairman Jerome Powell's outlook on monetary policy.

The pan-European STOXX 600 index slipped 0.2 per cent by 0716 GMT, with banks and miners leading the losses.

Tech stocks extended gains after another record-setting session on Wall Street.


Investors will be looking for clues on the U.S. central bank's new strategy for meeting its price stability and maximum employment goals amid a deep economic crisis caused by the coronavirus pandemic. Powell is set to speak at 1310 GMT.

French advertising group Publicis rose 0.9 per cent after bigger rival WPP said it had resumed its dividend after cost cuts and a switch to faster ad production helped it to beat dire forecasts for second-quarter trading. WPP shares jumped 4.8 per cent.

German online takeaway food group Delivery Hero slipped 1.7 per cent on announcing the acquisition of online grocery service InstaShop after almost doubling its revenues in the first half of 2020.
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