LONDON: European stock markets mostly rose on Wednesday as investors appeared willing to set aside fears of recession, instead focusing on bargain hunting, analysts said."Recession nerves look to have settled a little following last week's panic, which has brought some relief to markets," said Craig Erlam at OANDA.
US stock markets also made a better start,"aided by some stabilisation in global bond yields which had plunged recently to exacerbate market uneasiness and growth concerns", said Charles Schwab analysts.The euro flatlined against the dollar as Italy's crisis offset optimism that Germany's government could unveil measures to avert a downturn.
"It is not clear whether or not the President will try and put a caretaker government in place at first - though it seems likely that Salvini will be given the reins sooner or later," Rabobank analyst Jane Foley told AFP. Powell's talk at the central bankers' gathering in Jackson Hole, Wyoming, is the key event and will be closely pored over for clues about the bank's plans for next month, with experts unable to agree on whether or not he will announce further cuts.
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