European stocks swing in cautious trade as Jackson Hole begins

European shares were little changed Friday, with the benchmark index heading for the biggest weekly gain in six months, with investors waiting for speeches from major central bankers.

- Euro Stoxx dropped 0.18%, 0.57 points to 314.56

- STX Europe 600 edged 0.15% lower to 337.12

- Euro Stoxx 50 lost 0.25% to trade at 3,116.84

Traders are currently trading on the sidelines ahead of speeches by U.S. Federal Reserve Chairwoman Janet Yellen and European Central Bank President Mario Draghi at the Jackson Hole Economic Policy Symposium later Friday.

Most economists expected Yellen to reassure markets that interest rates will stay low for some time, despite Fed minutes this week that showed officials had discussed an earlier hike.

And with the alarmingly low inflation in the euro zone, investors will be on the lookout for any hints of new policies from Mr. Draghi.

- British FTSE 100 fell 0.03%, 2.13 points to trade at 6,775.51

- French CAC 40 lost 0.42%, 17.87 points to 4,275.02

- German DAX declined 0.15%, 13.44 points to 9,388.09

In Asia, indices traded higher on Friday, following a positive lead from Wall Street overnight. The Dow Jones returned to its perch above 17,000 for the first time since July 29, and the S&P 500 finished at its 28th record finish this year.

Data on Thursday showed U.S. home re-sales raced to a 10-month high in July and the number of Americans filing new claims for jobless benefits fell last week, on a clear sign of strength in the economy.