European bourses look set to push higher Wednesday morning, with the German DAX leading the way as investors look ahead to earnings reports and monitor the latest political developments in the U.S.
Major European leaders including French President Emmanuel Macron, German Chancellor Angela Merkel and European Commission President Jean-Claude Juncker will attend a Western Balkans Summit in Italy on Wednesday, at which economic cooperation and efforts to counter corruption are on the agenda.
At an International Monetary Fund conference in Dubrovnik, Croatia, Managing Director Christine Lagarde spoke of the strength of the European Union following the U.K.’s vote to leave the bloc just over a year ago. “It’s quite fascinating to see … existing members of the EU being suddenly revitalized, rejuvenated and re-encouraged,” she told CNBC exclusively Tuesday.
Housebuilder Barratt Developments, pub chain JD Wetherspoon and luxury fashion brand Burberry are the major U.K. companies set to publish second-quarter earnings. Elsewhere in Europe, Norway’s Aker Solutions will release new figures. U.K. unemployment data for the month of May will also be made public.
Stateside, furor in Washington D.C. surrounding Donald Trump Jr’s role in Russia’s attempt to influence last November’s presidential election continues. Meanwhile, U.S. Federal Reserve Chair Janet Yellen is set to present her Monetary Policy Report on the state of the world’s largest economy.
Also in North American news, the Bank of Canada is anticipated to raise interest rates for the first time in almost seven years. This would make Canada the first major central bank to follow the U.S. in moving on from the monetary stimulus framework implemented after the 2008 financial crisis.
European markets set to open higher; investors await data and earnings