LONDON — European stocks were higher Friday as investors looked ahead to U.S. Federal Reserve Chair Jerome Powell’s speech later in the session from Jackson Hole, Wyoming.
The Stoxx 600 index was up 0.29% by 2:06 p.m. London time, with all major bourses and the vast majority of sectors trading in the green. Utilities stocks added 0.76%, while tech stocks were the sole outlier, slipping 0.54%.
Shares of Nestle fell almost 4%, before paring losses slightly, after the company announced that it was replacing CEO Mark Schneider with company veteran Laurent Freixe following a period of lackluster performance. Shares were last seen down 1.1% at 2:05 p.m. in London.
Meantime, shares of Hugo Boss rose 4.8% after its second-biggest shareholder, Frasers, filed a request to acquire more shares, according to a filing with the German competition authority seen by Reuters.
Investors are looking ahead Friday to more signals on the path for monetary policy during a meeting of central bankers at the Jackson Hole Economic Symposium.
They will be looking for more information on an anticipated September Fed cut from Powell. Bank of England Governor Andrew Bailey is also expected to speak.
U.S. futures were slightly higher overnight in anticipation of the speech, while Asia markets mostly fell during Friday’s session.
Elsewhere, U.K. consumer confidence held steady in August, even as household expectations for the economy dipped slightly, fresh data showed Friday.
