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European share markets edge higher ahead of Fed chief’s speech

European share markets edge higher ahead of Fed chief’s speech

Mubasher: European stock markets edged higher on Friday, amid focus on a speech to be delivered by Federal Reserve Chair Jerome Powell later in the day.

By 8:54 am GMT, the pan-European benchmark STOXX 600 index rose by 0.57% to 376.42, recovering from a fall in the preceding session owing to mixed figures of business growth in major economies.

A leap of the sterling pound (GBP) against the US dollar weighed on London stocks. The FTSE 100 index rose by 0.73% to 7,180.51, while the Eurozone index STOXXE advanced by 0.62% to 367.02.

SimCorp A/S climbed by 7.7%, and it recorded the biggest gain in the benchmark index, after the software firm upgraded its financial forecast for this year.