European stocks opened higher as traders awaited key data from the United States and the euro zone, while a string of positive corporate earnings boosted risk appetite.
The pan-European STOXX 600 index rose 0.4% to trade near a two-week high.
Data on Tuesday showed that U.S. producer prices rose less than expected in July, reinforcing the market's view that slowing inflation will prompt the Federal Reserve to cut interest rates soon.
Markets are also awaiting US consumer price data, due later today, for clues on the state of the world's largest economy after slowdown fears sent risk assets to record global declines earlier this month.
Traders are also looking ahead to euro zone employment and GDP data, due at 09:00 GMT.
UK consumer price inflation rose to 2.2%, two months after hitting the Bank of England’s 2% target. Economists polled by Reuters had expected the index to rise 2.3%.
On the stock front, UBS rose 1.8% after Switzerland's largest bank reported a net profit of $1.14 billion in the second quarter, comfortably beating analysts' expectations.
