European markets to open higher as focus returns to earnings; Siemens unveils $7 billion buyback

Traders work on the floor of the New York Stock Exchange during morning trading on April 20, 2026 in New York City. Michael M. Santiago | LONDON — European stocks are expected to open higher on Wednesday, bouncing back from losses in the previous session. The U.K.'s FTSE index is seen opening 0.6% higher, Germany's DAX up 0.5%, France's CAC 40 up 0.6% and Italy's FTSE MIB 0.7% higher, according to data from IG. Earnings reports come from Allianz , Deutsche Telekom , Zurich Insurance , Eon , Merck, RWE , Hapag-Lloyd and Porsche on Wednesday. German automation giant Siemens has launched a new 6 billion euros ($7.04 billion) share buyback program covering the next five years, after posting a forecast-beating net profit of 2.03 billion euros for the first quarter. The expected higher open comes after European stocks traded in negative territory on Tuesday as prospects for a speedy resolution to the U.S.-Iran war appeared increasingly remote , and U.K. Prime Minister Keir Starmer's premiership looked highly vulnerable to a leadership challenge. Starmer told his weekly cabinet meeting Tuesday that he was not resigning following the Labour Party's poor local election performance last week, insisting he would "get on with governing." He remains under pressure with ministerial aides and several junior ministers resigning in recent days. Yields on U.K. government bonds , known as gilts, extended gains with the benchmark 10-year gilt rising 10 basis points to hit 5.11% at one point. …