BP earnings in focus amid flurry of economic data

The FTSE 100 is seen 28 points higher at 7,062, the CAC is expected to open up around 13 points at 5,013, while the DAX is poised to start 17 points higher at 11,194, according to IG.

Market focus is largely attuned to the latest batch of corporate results, after fourth-quarter earnings helped to push the S&P 500 slightly higher on Monday.

In Asia, MSCI’s broadest index of Asia-Pacific shares, excluding Japan, rose 0.4 percent — hovering close to a four-month high.

Trading was subdued on Tuesday, with many of Asia’s financial markets closed for the Lunar New Year. China’s financial markets are closed all week, with South Korea’s index set to reopen on Thursday.

Back in Europe, Austria’s AMS, Italy’s Intesa Sanpaolo and Britain’s BP are all expected to release their latest quarterly earnings results on Tuesday morning.

Market participants are also likely to closely monitor the release of Spain’s consumer confidence figures at around 9:00 a.m. London time.

The euro area is scheduled to publish month-on-month retail sales data for December later in the session.

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