LONDON – European stocks are expected to open higher on Wednesday, continuing the positive sentiment seen in global markets since the start of the week.
of the UK FTSE the index is expected to open 7 points higher at 8,557, German DAX up 98 points to 21,140, France CAC 40 up 13 points to 7,786 and Italy FTSE MIB rose 123 points to 36,311, according to data from IG.
Global stock markets traded higher earlier this week as investors digested the first executive orders newly inaugurated US President Donald Trump signed on Monday.
The market gains were attributed to the fact that, while Trump issued of a sweeping memorandum directing federal agencies to evaluate what he considers unfair foreign trade policies, he stopped short of approving new tariffs on his first day back in office. Investors took that as a sign that he may be less enthusiastic about the tariffs than previously expected.
Asia-Pacific markets mostly rose overnight, while S&P 500 futures rose last night after the first trading session after inauguration day ended with strong gains.
The impact that Trump’s second term could have on the global economy and geopolitics was a key talking point at the World Economic Forum in Davos, Switzerland.
CNBC’s coverage of the annual forum continues, with António Guterres, the Secretary-General of the United Nations, scheduled to speak at 11:30 a.m. Davos time. Spanish Prime Minister Pedro Sanchez will speak at 3:45 p.m
CNBC’s prominent guests include Mark Rutte, head of NATO, and Polish President Andrzej Duda and Sanchez.
Dutch Prime Minister Dick Schoof, the United Arab Emirates’ ministers of economy and trade, Saudi Arabia’s Finance Minister Mohammed Al Jadaan and Finnish President Alexander Stubb will also speak to CNBC at Wednesday’s forum.
There are no major data releases in Europe on Wednesday, but easyJet will release its latest earnings report.
