European Markets Open Higher Amid Trade Tensions

Following the implementation of US President Donald Trump's tariffs on Canada, Mexico, and China, European stock markets experienced a notable uptick during Wednesday's premarket session. The tariffs, which include a 25% duty on Canada and Mexico and an additional 10% on Chinese goods, have prompted these nations to respond with their own countermeasures.

Earnings Reports and Economic Data in Focus

Amidst the trade tensions, major corporations like Adidas and Bayer have released their fourth-quarter earnings reports, drawing attention from investors. The market is also keenly awaiting a series of economic data releases, including France's industrial production figures, Germany's services PMI, Italy's GDP, and retail sales data. Additionally, the Eurozone's producer price index and services PMI are anticipated.

Market Performance and Currency Movements

By 8:00 am CET, the DAX had climbed by 0.88%, with the FTSE 100 and CAC 40 also seeing gains of 0.77% and 0.97% respectively. The Euro Stoxx 50 surged by 1.88%. In currency markets, the euro rose by 0.31% against the dollar, while the pound sterling gained 0.18%.