LONDON – European stocks were expected to open higher on Wednesday, extending the positive sentiment in global markets that has been building since the start of the week.
British FTSE German stocks are expected to open 0.04% higher than Tuesday’s close German DAX Index Futures opened up 0.48%, France CAC 40 According to FactSet, the gain was 0.19%.
Global stock markets had been trading higher earlier this week as investors digested the first executive order signed by newly inaugurated U.S. President Donald Trump on Monday.
The reason why the market is rising is that despite Trump release In a broad memo, he directed federal agencies to evaluate trade policies that he considered unfair to foreign countries, but stopped short of authorizing new taxes on his first day back in office. Investors took that as a sign that he may be less enthusiastic about imposing tariffs than previously expected.
In Europe, Britain revealed Borrowed £17.8 billion The budget deficit in December was $21.9 billion, an increase of £10.1 billion from December 2023.
Meanwhile, investment bank Berenberg upgraded carmaker BMW to “buy” from “hold.” The brokerage said it is bullish on the stock because BMW’s factories are able to produce hybrid powertrains rather than focus on electric or gasoline-powered vehicles amid the challenging trading environment facing automakers.
Asia Pacific market Most rose overnight, while S&P 500 futures rose overnight The first trading day after Inauguration Day ended with strong gains.
The possible impact of Trump’s second term on the global economy and geopolitics has been a key topic at the World Economic Forum in Davos, Switzerland.
CNBC’s coverage of the annual forum continues, with United Nations Secretary-General Antonio Guterres set to speak at 11:30 a.m. Davos time. Spanish Prime Minister Pedro Sánchez will speak at 3:45 p.m.
Highlighted guests on CNBC include NATO leader Mark Rutte, Polish President Andrzej Duda and Sanchez.
Dutch Prime Minister Dick Schouf, United Arab Emirates Minister of Economy and Trade, Saudi Arabian Finance Minister Mohammed al-Jadaan and Finnish President Alexander Stuab will also speak to CNBC at the forum on Wednesday.
There are no major European data releases on Wednesday, but easyJet is due to release its latest earnings report.
