European markets traded with gains at the opening hour on Monday after the US Federal Reserve Chair Jerome Powell said inflation still "too high" in his speech at the Jackson Hole Symposium. The British FTSE was last trading 0.07 percent higher. French CAC was trading a percent in the green, while the biggest European market by volume, German DAX was up 0.79 percent.

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The European indices ended slightly higher on Friday. CAC gained 0.2 percent, while DAX ended flat.

Wall Street indices ended higher in the previous session. Dow ended 0.7 percent higher, while S&P and Nasdaq closed 0.7 and 0.9 percent higher, respectively. S&P and Nasdaq ended higher for the week. Nasdaq snapped a three-week losing streak.

US Federal Reserve Chair Jerome Powell on Friday, in his keynote speech at the annual Jackson Hole symposium, delivered a stark message regarding the current state of inflation, asserting that it remains "too high" despite some recent declines. Powell warned that the US central bank is ready to take additional measures to curb inflation, including raising interest rates further if deemed necessary.

The European markets are also taking cues from their Asian counterparts. Japan's Nikkei was last trading 1.73 percent higher, while China's Shanghai Composite was trading 1.13 percent higher at the last count. Hong Kong's Hang Seng was trading 1.02 percent higher.

Oil prices were last trading in the green. Brent crude futures were trading 0.3 percent higher at $84.73 a barrel. US West Texas Intermediate futures, too, were trading 0.4 percent higher at $80.15 a barrel.

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First Published:Aug 28, 2023 1:11 PM IST