Aug. 22 at 8:11 PM
European stock markets were higher on Friday, closing at their highest level in over 5 months, after U.S.
$FED Chair Powell pointed to a possible September interest rate cut in his Jackson Hole Symposium speech. Traders now put a nearly 90% probability on a Fed rate cut in September, vs. about 75% before Powell's remarks. French
$CAC40 +0.40%, German
$DAX +0.29%, Italian FTSE +0.69%, reaching a new high of 43,564.12, Spain’s Ibex +0.61%, after reaching a new high of 15,443.90 London
$FTSE +0.13%, hitting a new record high of 9,357.51 & European STOXX 600 +0.40% at 561.30, in a 3rd week of gains, less than 1% away from record highs. Miners led sectoral gains with a +1.6% advance, tracking rising copper prices that hit a 1-week high. Automobiles, were up 1.4% & travel & leisure stocks rose +1.3%. Insurers fell the most, down -0.6%.