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European stocks were flat to slightly lower on Wednesday, as investors fretted over a worsening energy crisis and hawkish comments from Fed officials on the pace of future rate rises.<\/p>\n
Federal Reserve Bank of Minneapolis President Neel Kashkari said on Tuesday inflation is much more embedded at a much higher level and the central bank has to be more aggressive to bring it under control.<\/p>\n
It is believed that Fed Chair Jerome Powell’s Friday morning speech at Jackson Hole could cement the market tone until the next Federal Open Market Committee meeting next month.<\/p>\n
Investors also await minutes of the ECB’s last policy meeting, which might provide additional hawkish signals.<\/p>\n
The pan European Stoxx 600 was marginally lower at 431.29 after declining 0.4 percent on Tuesday. <\/p>\n
The German DAX slipped 0.1 percent, France’s CAC 40 was little changed with a negative bias and the U.K.’s FTSE 100 dipped 0.2 percent. <\/p>\n
Miners Anglo American, Antofagasta and Glencore lost 1-2 percent in London on concerns that the risk from China’s property sector could spill into the wider economy<\/span> weighed on the mining sector.<\/p>\n Costain Group fell over 1 percent. The construction engineering firm reported that its first-half profit before tax increased to 11.2 million pounds from last year’s 9.1 million pounds.<\/p>\n Lookers, a car dealership chain, surged nearly 6 percent after reporting a rise in first-half profit and sales, despite the ongoing weakness of the U.K. auto market.<\/p>\n CTS Eventim AG, a German provider of ticketing services and live entertainment<\/span>, rose 1.4 percent after it posted a surge in normalized-EBITDA for the first-half, driven by a rise in sales.<\/p>\n Swedish construction and project development company Skanska AB edged up slightly after it signed a contract with National Highways to upgrade a 6.6 kilometre stretch of the A46 Newark Bypass in the Midlands region, U.K. <\/p>\n<\/p>\n Business News<\/p>\n<\/div>\n