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Quiet Thursday as Markets Await Draghi, Yellen Speeches

Quiet Thursday as Markets Await Draghi, Yellen Speeches

Katie Pilbeam, Contributor

European stocks are modestly higher this Thursday on the day that both Yellen and Draghi arrive at the Jackson Hole meeting.

Data from the Confederation of British Industry showed U.K. retail sales declining in the year to August. According to the latest CBI reading, UK retail sales are at their weakest since July last year – another sign that higher inflation is squeezing consumers’ pockets here in Britain.

But UK GDP growth in the second quarter of the year has been confirmed at 0.3pc, a slight pick-up from 0.2pc in the first quarter. The services sector was the main driver of growth, which posted an improvement of 0.5pc quarter-on-quarter growth.

Dixons Carphone is one of the biggest fallers today after publishing a profits warning amid a tough mobile phone market and lower earnings from its software division.

And at the top is Provident Financial, recovering after a stunning crash following a profit warning earlier this week collapsed its share price.

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--- Written by Katie Pilbeam, DailyFX

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.