LONDON – European stocks are expected to open higher on Wednesday, continuing the positive sentiment in global markets since the start of the week.

British FTSE The German stock index is expected to open 7 points higher at 8,557 German DAX Index France rises 98 points to 21,140 CAC 40 Up 13 points to 7,786 points, Italy FTSE MIB It rose 123 points to 36,311, according to IG data.

Global stock markets had been trading higher earlier this week as investors digested the first executive order signed by newly inaugurated U.S. President Donald Trump on Monday.

Markets rise despite Trump release In a broad memo, he directed federal agencies to evaluate trade policies that he considered unfair to foreign countries, but stopped short of authorizing new taxes on his first day back in office. Investors took that as a sign that he may be less enthusiastic about imposing tariffs than previously expected.

Asia Pacific market Most rose overnight, while S&P 500 futures rose overnight The first trading day after Inauguration Day ended with strong gains.

The likely impact of a second Trump term on the global economy and geopolitics has been a key topic at the World Economic Forum in Davos, Switzerland.

CNBC’s coverage of the annual forum continues, with United Nations Secretary-General Antonio Guterres set to speak at 11:30 a.m. Davos time. Spanish Prime Minister Pedro Sánchez will speak at 3:45 p.m.

Highlighted guests on CNBC include NATO leader Mark Rutte, Polish President Andrzej Duda and Sanchez.

Dutch Prime Minister Dick Schouf, United Arab Emirates Minister of Economy and Trade, Saudi Arabian Finance Minister Mohammed al-Jadaan and Finnish President Alexander Stuab will also speak to CNBC at the forum on Wednesday.

There are no major European data releases on Wednesday, but easyJet will release its latest earnings report.