FTSE 100 up 0.3, FTSE 250 adds 0.1
Precious metal miners led broad gains
U.S. Fed Chair Powell39;s speech on tap
Direct Line flags change to solvency capital ratio, shares fall

Aug 23 Reuters London stocks edged higher on Friday as metals prices rose and pulled up miners while investors eagerly anticipated U.S. Federal Reserve Chair Jerome Powell39;s speech at the Jackson Hole symposium.

The bluechip FTSE 100 index was up 0.3 at 8,309.29, set to log weekly declines. The midcap FTSE 250 was up 0.1 by 0710 GMT, on track for its second week of gains.

Precious and industrial metal miners, which ended at the bottom of the benchmark on Thursday, gained 0.7 and 0.5, respectively, as prices of gold and base metals rose.

Energy shares gained 0.5 after energy regulator Ofgem raised its price cap on household energy bills by 10 from Oct. 1 to an annual level of 1,717 pounds 2,250.64.

Nonlife insurers slipped 0.5 to the bottom of the index.

All eyes are on Powell39;s speech at the Jackson Hole symposium in Wyoming at 1400 GMT.

What has been a calm week could see lastminute volatility with Powells speech, where he is expected to douse the jumbo rate cut expectations, Ipek Ozkardeskaya, senior analyst at Swissquote Bank, said in a note.

There is no reason for the Fed to start cutting by big chunks in the absence of a severe economic slowdown, market stress, or a crisis.

Money markets are pricing in over 75 chances of a 25 bps cut at the Fed39;s September meeting, amid…