European Shares Seen Lower As Brexit Talks Resume

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(RTTNews.com) - European stocks look set to open a tad lower on Monday after ECB President Mario Draghi refrained from talking down the common currency at Jackson Hole. Trading volumes are likely to be thin amid a national holiday in Britain.

The euro extended gains to a 2-1/2-year high against the dollar, gold hit a one-week high and the Japanese yen strengthened after Federal Reserve Chair Janet Yellen skipped any mention of monetary policy in a speech at economic policy symposium of global central bankers.

Geopolitical tensions are also running high after North Korea fired three short-range missiles into the sea Saturday amid U.S.-South Korea military drills.

Oil prices edged higher in Asian deals as investors digested the impact of Hurricane Harvey on the U.S. Gulf Coast.

Brexit talks will resume in Brussels later in the day and it remains to be seen whether European officials would welcome the Labour proposal backing the U.K. staying in the EU single market and customs union during a "transition period" after it leaves the bloc.

U.S. stocks closed mixed on Friday after President Donald Trump's chief economic adviser Gary Cohn said the Trump administration's agenda and calendar will revolve around tax reform starting next week.

Traders also reacted to disappointing durable goods orders data as well as comments from central bankers at the Fed's economic policy symposium in Jackson Hole, Wyoming.

The Dow inched up 0.1 percent and the S&P 500 rose 0.2 percent while the Nasdaq Composite edged down 0.1 percent.

European markets fell slightly on Friday after Fed Chair Yellen made no signals about monetary policy.

The pan-European Stoxx Europe 600 index, the German DAX and the U.K.'s FTSE 100 all edged down by 0.1 percent while France's CAC 40 index shed 0.2 percent.

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