European markets open higher ahead of euro zone inflation, Fed decision
Istanbul, July 31 (Hibya) - European markets maintained positive momentum on Wednesday, with eurozone inflation due and corporate earnings still in focus.
The Stoxx 600 index was up 0.93 percent in early deals, with technology stocks jumping 3.3 percent after the sector’s mixed performance on Wall Street.
HSBC shares rose 2.0 percent after the bank recorded a narrow decline in pretax profit in the first half of the year but outperformed analyst expectations. The bank also announced a $3 billion share buyback.
On the data front, inflation figures for the eurozone will be published at 10 a.m. London time. The figures come after the euro zone's second-quarter gross domestic product came in at 0.3 percent on Tuesday, slightly higher than expected.
In the U.S., the Federal Reserve is expected to keep interest rates steady on Thursday. However, any forward guidance it provides will be more important, with markets currently pricing in a 100 percent probability of a rate cut in September.
In Asia, all eyes are on the Bank of Japan, which raised its benchmark interest rate to 0.25 percent from its previous range of 0 percent to 0.1 percent and outlined a plan to taper its bond-buying program.