European stocks opened higher Tuesday as investors return to risk markets following solid U.S. data and a modest overnight rebound for the dollar ahead of the Federal Reserve's two-day rate setting meeting.
Britain's FTSE 100 gained at the start of trading, according to financial bookmakers IG, with higher oil and commodity prices offsetting the impact of an elevated pound, which traded at 1.3026 at the start of European trading. Broader European markets are also expected to post solid gains ahead of a key survey of business sentiment from Germany's Ifo Institute later in the session.
Another heavy earnings slate that includes second quarter figures from Dow components Caterpillar (CAT) - Get Caterpillar Inc. Report , Du Pont (DDD) - Get 3D Systems Corporation Report and 3M Co. (MMM) - Get 3M Company Report as well as Eli Lilly & Co. (LLY) - Get Eli Lilly and Company Report , Kimberly-Clark Corp. (KMB) - Get Kimberly-Clark Corporation Report and McDonald's Corp. (MCD) - Get McDonald's Corporation Report has the potential to significantly alter the tone of the session.
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