European stock indices closed with a slight increase on Friday. On Monday, the London Stock Exchange is closed on the occasion of Summer Bank Holiday. European indices showed a slight increase today. The CAC 40 Index rose by 0.08%, while the DAX Index added 0.02%. The FTSE All-Share Index closed with an increase of 0.32%. The STOXX Europe 600 Index swelled by 0.43%.
The European stock market gained momentum thanks to the growth in the US stock market. Investors continue to mull over the Fed Chairman's speech. Jerome Powell said that the reduction if the bond-buying program may begin as early as this year. However, the final decision on the will not be made until November of this year. According to experts, such a statement is likely to lead to the positive dynamic in stock markets.
Meanwhile, investors are awaiting the publication of the annual inflation report in Germany. Inflation is projected to drop to 3.8% from 3.9%. Import prices in Germany increased by 15% compared to the level of the previous year and by 2.2% from July. These data exceeded the experts' estimates. They had forecast the indicators to amount to 13.6% and 0.8%, respectively.
According to national statistical data, in France, the consumer confidence index decreased by 1 point in August compared to the previous month and reached 99 points. Analysts had expected the reading to stay at the level of 100 points.
The shares of Entra ASA, ASM International and Anglo American companies, included in the STOXX Europe 600, were the biggest gainers. They added 4.6%, 3.9%, and 3%, respectively. The share price of MorphoSys grew by 1.5%.
Just Eat Takeaway, Zur Rose Group AG, and J Sainsbury shares lost the most: 7.5%, 4.2%, and 2.9%, respectively.
