European markets were lower for most of the morning but are starting to rally small . Investors seem to be in a cautious mood ahead of US GDP data and Ben Bernanke’s speech in Jackson hole this afternoon.  The S&P euro 350 is down this morning, with a clear move away from riskier sectors and into safer grounds of Healthcare, telecoms and Utilities.

FTSE +.13 %

CAC +.12%

DAX +.12%