Stock markets mostly fell during cautious trading sessions Thursday, a day before a key speech expected to offer signals about future interest rate cuts in the United States.

US Federal Reserve Chairman Jerome Powell, who has resisted President Donald Trump's public demands to slash rates, is scheduled to deliver remarks Friday at the annual central bankers conference in Wyoming.

Major European indices were lower in midday trading, tracking a lacklustre session in Asia, and Wall Street indices opened lower after weakness seen on Wednesday.

Investors largely brushed off purchasing managers' index (PMI) data showing eurozone business activity reached a 15-month high in August, while UK activity grew at its fastest pace in a year.

"Eyes are turning to... Powell's final speech at the Jacks

See Full Page