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