Markets

European markets higher; Jackson Hole meeting; Dixons Carphone down 27%

Europeans stocks edged higher on Thursday as investors awaited comments on monetary policy from the Jackson Hole meeting.

The pan-European Stoxx 600 was 0.3 percent higher in early deals with most sectors moving in positive territory. Construction and material stocks outperformed all the other sectors after CRH sold its U.S. business for $2.63 billion in cash to Beacon Roofing, Reuters reported. CRH shares jumped more than 4 percent.

On the other hand, retail stocks were down 0.2 percent in early trading on earnings. Dixons Carphone has lowered its full-year profit on Thursday on tougher market conditions. The firm said that its headline pretax profit for the current year should come between £360 million and £440 million ($460-562 million) – lower than the £495 million that Reuters analysts were expecting. The firm hit the bottom of the European benchmark, down by nearly 28 percent.

Simcorp, a software provider, dropped more than 12 percent in early deals after its earnings report disappointed investors.

At the top of the benchmark was Sunrise, the Swiss telecom firm, up by more than 4.5 percent after reporting strong second-quarter results.

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