European Shares To Edge Up on Strong US Earnings

European shares were set to edge up on Wednesday, tracking gains on Wall Street and in Asia, as robust earnings overnight from U.S. technology firms Apple and IBM reinforced hopes of a strong corporate reporting season.

Bryce Duffy | Stone | Getty Images

European shares hit their highest close in more than 28 months on Tuesday, as euro zone finance ministers inched towards improving a rescue fund, and investor confidence grew in Germany.

Portugal is aiming to sell 750 million euros of Treasury bills on Wednesday in another test of international investor confidence in the debt-battered country.

On Tuesday, Spain sold 5.5 billion euros ($7.34 billion) of 12- and 18-month T-bills, in the middle of the targeted range and with both issues at a lower yield than the previous auction in December.

European leaders agreed on Tuesday to include targets in liquidity in new, tougher bank stress tests are part of the European Union's efforts to win back market confidence in the stability of its financial system and draw a line under the euro zone's sovereign debt crisis.

UK consumer confidence and monthly unemployment figures for December will be released on Wednesday, along with construction output in the euro zone for November.

Investors will also keep an eye out for Goldman Sachs and Wells Fargo quarterly earnings, both of which are due out before US markets open on Wednesday.