Small fluctuations and different signs were shown in today’s trading by the main European indices, with investors not only in Europe but also worldwide moving cautiously in anticipation of tomorrow’s speech by the central banker of the USA.

In particular, the pan-European Stoxx 600 index ended the session with a slight increase of 0.3% to 433.44 points, receiving support from the energy sector which produced a positive reaction with +1.1%, while retail trade shares recorded losses of 2% .

In individual European charts, Germany’s DAX closed at 13,271 points, up 0.4%, Britain’s FTSE 100 edged up slightly by 0.1% at 7,479 points, while France’s CAC 40 ended marginally down 0.08% at 6,381 units.

The picture was also mixed in the markets of the European region, where in Italy the FTSE MIB ended with a small increase of 0.1% at 22,454 points, while in Spain the IBEX 35 closed with a small drop of 0.15% at 8,187 points.

In individual stock moves, Harbor Energy saw its stock jump 10% to top the Stoxx 600 after it reported strong quarterly results.

In contrast, Sweden’s Elekta plunged more than 7% after its revenue fell in the quarter.

In the absence of developments and with the energy crisis continuing to weigh on the economies of the Old Continent, investors appeared reluctant to take a position ahead of the Fed’s annual conference, which begins today with all eyes on the US central bank chairman’s speech tomorrow.

After aggressive hikes in US interest rates in recent months, investors are hoping the Fed will adopt a more dovish stance, moving ahead with smaller hikes in the near term so as not to derail economic growth.

Otherwise, the energy pressure in Europe remains unabated, with the price of natural gas exceeding 315 euros today.

On the macro front, the German economy despite its heavy reliance on Russian energy proved more resilient than initially estimated in the second quarter, posting marginal growth of 0.1% despite a rally in inflation and the war in Ukraine.

At the same time, business confidence in the country deteriorated slightly in August, with the Ifo institute’s relative index falling to 88.5 points in August, from 88.7 points in July.