European shares are set for a strong open on Wednesday carrying on the positive sentiment that kickstarted on Wall Street.
Investors will be particularly focused on Brussels and on Alphabet shares Wednesday. Media reports suggest the U.S. tech giant Google might be hit with its biggest ever regulatory fine as the European Commission presents the findings of an eight-year probe into the company’s operating system for mobile phones.
Ahead of the European session, Asian shares traded higher following the positive momentum seen stateside. U.S. stocks jumped Tuesday on strong earnings reports and confident remarks by the Federal Reserve Chairman Jerome Powell.
During his address to Congress, Powell downplayed concerns over the economic impacts of a trade war and added that, ultimately, if the White House managed a world of lower tariffs that would be positive for the economy.
Back in Europe, Olli Rehn, the newly- appointed Finnish bank governor and European Central Bank member, said that the central bank should not tie its hands too early when it comes to what it might do in the future. In an interview to Reuters, Rehn said any monetary policy decision should depend on incoming data.
In the U.K. Prime Minister Theresa May has narrowly avoided a defeat in parliament over future trade links with the European Union, after it leaves the bloc. Elsewhere, Bank of England Governor Mark Carney said a no-deal with the EU would lead to an interest rate review.
Data released Wednesday includes the U.K. and euro zone’s latest inflation numbers, due at 9.30 a.m. and 10 a.m. London time, respectively.
European markets set for a strong open amid earnings; Google in focus