European Shares Seen Higher, Earnings Eyed


European shares were poised to inch higher on Wednesday, tracking gains in U.S. and Asian shares overnight as a flurry of strong corporate results from companies with broad international reach reassured investors over the outlook for corporate profits.

Financial bookmakers, or spread betters, in London expected Britain's FTSE 100 index to open between 16 and 20 points higher, the German DAX between 5 points lower to 3 points higher and the French CAC 40 unchanged to up 4 points.

A rush of corporate results from European companies such as GlaxoSmithKline, Merck, Iberdrola and TomTom are expected on Wednesday.

The FTSEurofirst 300 index of top European shares gained 0.9 percent on Tuesday to close at 1,557.99 points, as stocks bounced back from a  three-session losing streak on good results from both European and U.S. companies that calmed fears over economic growth and corporate profits.