European shares slip ahead of U.S. Fed chief Powell's testimony

  • Reuters
  • Stock Market News
European shares slip ahead of U.S. Fed chief Powell's testimony

(For a live blog on European stocks, type LIVE/ in an Eikon news window)

July 10 (Reuters) - European shares dipped in early trading on Wednesday ahead of U.S. Federal Reserve Chair Jerome Powell's two-day testimony where investors will closely watch for signs of an interest-rate cut later this month.

Powell is scheduled to give his semi-annual monetary policy testimony to Congress at 1400 GMT, and investors see a worrying lack of inflation globally as one reason for Powell to sound suitably dovish. pan-European shares index .STOXX fell 0.2% and was on course to extend losses to a fourth day, with Spain's IBEX .IBEX underperforming with a 0.4% loss.

Stocks with exposure to Mexico led losses in Madrid with BBVA BBVA.MC , Iberdrola IBE.MC and Telefonica (MC: TEF ) VIVT4.SA down between 0.6% and 0.8%, after a shock resignation of Mexican Finance Minister Carlos Urzua on Tuesday rattled Mexican markets.

Drop an image here or Supported formats: *.jpg, *.png, *.gif up to 5mb

Error: File type not supported

Drop an image here or

100