European markets steady ahead of Bernanke speech
Markets flat ahead of speech from Federal Reserve chairman later today.
European indices have posted minimal gains in early trading as investors await an update on US monetary policy from Ben Bernanke in his Jackson Hole speech this afternoon.
The FTSE 100 was up 0.11 per cent to 5,725.8 at 8.33am while France’s Cac 40 gained 0.27 per cent to 3,388.11 and the FTSE EuroFirst 300 stayed flat with a slight 0.06 per cent gain.
In addition Germany’s Dax was up 0.21 per cent to 6,909.92 in spite of the fact the latest retail figures for July showed a decline in retail sales of 0.9 per cent in real terms from June 2012.
Elsewhere the US indices closed lower with the Dow Jones falling 0.81 per cent to 13,000.71 and the S&P 500 slipping 0.78 per cent to 1,399.48 as investors wait for Mr Bernanke’s update.