FX.co ★ European Stocks Set for Higher Open

European equity markets were set to open higher on Wednesday, extending the previous session’s gains as selling pressure tied to artificial intelligence stocks showed signs of easing. Geopolitical tensions also appeared to moderate after the US and Iran agreed on a set of “guiding principles” aimed at advancing talks over Tehran’s nuclear program. At the same time, Russia and Ukraine wrapped up the first two days of US-brokered peace negotiations.

On the macroeconomic front, investors will focus on January inflation data from the UK, following labor market figures that revealed unemployment rose to a five-year high last month. Final January inflation readings from France are also due. In corporate news, earnings are expected from CRH, Glencore, Orange, and Garmin, among others. In premarket trading, futures on both the Euro Stoxx 50 and the Stoxx Europe 600 were up around 0.3%.