FX.co ★ European Markets Head Higher on Earnings Boost

European stock markets were poised for a positive start on Wednesday as investors analyzed a series of corporate earnings reports. UBS outperformed expectations with a robust second-quarter net profit, bolstered by strong performances in its investment banking and wealth management sectors. Although HSBC initiated a $3 billion share buyback program, its quarterly profit did not meet forecasts. Meanwhile, both Siemens Healthineers and Santander reported solid outcomes for the June quarter. On the contrary, L'Oréal did not meet sales projections due to weaker performance in Europe, which countered gains in the US and China. The company also cautioned that the US-EU trade agreement might result in increased costs. In premarket trading, Euro Stoxx 50 futures advanced 0.3%, with Stoxx 600 futures inching up 0.15%.