European equities remained largely flat Thursday as investors prepared for the start of the highly anticipated Jackson Hole symposium and awaited regional economic data.
By 07:40 GMT, Germany’s DAX inched up 0.1%, the U.K.’s FTSE 100 added 0.1%, while France’s CAC 40 slipped 0.2%.
Market Eyes Jackson Hole Symposium
The annual Jackson Hole meeting in Wyoming, organized by the U.S. Federal Reserve, begins later Thursday. Central bankers from across the globe will convene to discuss monetary policy, with market participants especially focused on Friday’s speech by Fed Chair Jerome Powell—his final address at the event. Investors hope to glean clues on a potential rate cut in September following softer-than-expected U.S. payroll data earlier this month.
Powell will not be the only key speaker. ECB President Christine Lagarde and Bank of England Governor Andrew Bailey are also slated for panel discussions. Market-implied probabilities for a 25-basis-point Fed rate cut on September 17 currently stand at 80%, slightly down from 84% the previous day, yet still widely anticipated.
Flash PMIs Highlight Eurozone Activity
Economic data for the eurozone will also draw attention, with preliminary August purchasing managers’ index (PMI) readings scheduled for release across several countries, including Germany and the U.K.
France’s flash figures, released earlier, signaled a near return to growth in business activity for the first time in a year. The HCOB France flash services PMI, compiled by S&P Global, rose to 49.7 in August—the highest since August 2024 and close to the 50-mark separating growth from contraction. Meanwhile, the manufacturing PMI advanced to 49.9, a 31-month high, up from 48.2 in July. The composite PMI, which combines services and manufacturing, reached 49.8, up from 48.6 the previous month, suggesting tentative stabilization in the eurozone’s second-largest economy.
Corporate Earnings Updates
Although earnings season is winding down, several corporate reports drew attention.
- WH Smith (LSE: SMWH) revised its full-year profit forecast downward after identifying an overstatement of roughly £30 million due to early recognition of supplier income in its North American division.
- Aegon (NYSE: AEG) posted a strong net profit for H1 2025, reversing a loss from a year earlier. The Dutch insurer announced it would double its share buyback program and raise its interim dividend by 19%, buoyed by growth in the U.S.
- Finnish property firm Kojamo (TG:A3K31C) recorded slightly higher revenue in Q2 2025 but saw profitability decline due to continued valuation losses on its property portfolio.
- Renishaw (LSE: RSW) projected full-year 2025 profits at the top of its guidance, easing concerns over U.S. tariffs and highlighting faster-than-expected cost savings delivery, even as its long-serving CFO prepared to step down.
Oil Prices Continue Upward Trend
Crude prices rose Thursday, extending recent gains on the back of strong demand indicators in the U.S., the world’s largest energy consumer.
At 03:40 ET, Brent futures climbed 0.8% to $67.37 per barrel, while WTI crude advanced 1% to $63.33 per barrel. Both contracts had gained more than 1% in the previous session.
The U.S. Energy Information Administration reported a 6 million-barrel decline in crude inventories last week, alongside a 2.7 million-barrel drop in gasoline stocks, surpassing expectations. This suggests robust summer driving demand, helping offset some concerns over global economic uncertainty.
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