European markets set to inch higher with earnings, data and vaccines on the radar

European markets set to inch higher with earnings, data and vaccines on the radar

LONDON “” European markets were slightly higher on Wednesday morning as investors monitor economic data and corporate earnings.

The pan-European Stoxx 600 inched 0.1% above the flatline in early trade, with household goods gaining 0.8% while telecoms slid 0.6% lower.

Stocks in Europe are set for a mildly positive hangover from Asia-Pacific, where Chinese tech shares listed in Hong Kong bounced on Wednesday after 12 major companies signaled compliance with antitrust laws.

Stateside, futures tied to the major indexes were little changed in early premarket trade after the S&P 500 closed at a new record high. Investors stateside will be looking out for some major earnings releases on Wednesday, with banking giants JPMorgan, Goldman Sachs and Wells Fargo all due to report.

U.S. health authorities on Tuesday recommended pausing the distribution of Johnson & Johnson's Covid-19 vaccine after six women under the age of 50 developed rare blood clots after getting the inoculation. Johnson & Johnson announced that it would delay the vaccine's rollout in Europe, while South Africa also suspended its use.

Back in Europe, Credit Suisse told investors on Tuesday that $2.3 billion worth of its loans is exposed to ongoing uncertainties surrounding supply chain finance firm Greensill Capital.

Hawkish Bank of England Chief