July 10, 2019 / 7:16 AM / 7 days ago

European shares slip ahead of U.S. Fed chief Powell's testimony

(For a live blog on European stocks, type LIVE/ in an Eikon news window)

July 10 (Reuters) - European shares dipped in early trading on Wednesday ahead of U.S. Federal Reserve Chair Jerome Powell’s two-day testimony where investors will closely watch for signs of an interest-rate cut later this month.

Powell is scheduled to give his semi-annual monetary policy testimony to Congress at 1400 GMT, and investors see a worrying lack of inflation globally as one reason for Powell to sound suitably dovish.

The pan-European shares index fell 0.2% and was on course to extend losses to a fourth day, with Spain’s IBEX underperforming with a 0.4% loss.

Stocks with exposure to Mexico led losses in Madrid with BBVA, Iberdrola and Telefonica down between 0.6% and 0.8%, after a shock resignation of Mexican Finance Minister Carlos Urzua on Tuesday rattled Mexican markets. (Reporting by Susan Mathew in Bengaluru; Editing by Arun Koyyur)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below