Europe midday: Shares extend losses ahead of Jackson Hole
By Frank Prenesti
Date: Thursday 21 Aug 2025
(Sharecast News) - European shares extended losses on Thursday as attention turned to the US Jackson Hole symposium of central bankers scheduled to begin later in the day.
The pan-regional Stoxx 600 index was down 0.4% at 556 as of 1154 BST. Germany's DAX was 0.29% lower and France's CAC 40 declined by 0.62%.
Traders will be eyeing Federal Reserve boss Jerome Powell's speech on Friday, his last at the annual gathering as chairman of the US central bank, as they look for any indication of whether rates will be cut in September.
In economic news, private sector growth across the eurozone picked up to its highest level in 15 months, as a slowdown in the services sector was offset by a surge in activity in manufacturing.
The S&P Global and Hamburg Commercial Bank (HCOB) composite purchasing managers' index unexpectedly rose to 51.1 in August, up from 50.9 in July, helped by a renewed expansion in new business.
In the UK, government borrowing was lower than expected in July, according to data released on Thursday by the Office for National Statistics.
Borrowing came in at £1.1bn, down £2.3bn on July 2024 and marking the lowest July figure for three years following tax rises in April. Analysts were expecting £2.6bn and the Office for Budget Responsibility had forecast £2.1bn.
Borrowing in the financial year to July rose £6.7bn to £60bn. This was the third-highest April to July borrowing since monthly records began, after those of 2020 and 2021.
There was little corporate news to drive sentiment. Defence stocks rallied after two days of losses in response to hopes of peace in Ukraine as Russia appeared to be using stalling tactics to delay an agreement while it continued to shell civilians.
CTS Eventim slumped after first-half results, while Dutch insurer Aegon jumped as it doubled the planned value of its ongoing share buyback programme to €400m.
Reporting by Frank Prenesti for Sharecast.com
Email this article to a friend
or share it with one of these popular networks:
You are here: news
10 Lower Thames St,
London EC3R 6EN