Peter Nurse 

Investing.com: European stock markets rose Wednesday due to solid corporate earnings, ahead of U.S. inflation data. 

At 3:30 AM ET (0830 GMT), the in Germany traded largely flat, the U.K.’s climbed 0.4% and the in France rose 0.1%.

European quarterly corporate earnings season, which is currently in full swing and generally positive for the overall market, has started. 

The good news largely continued Wednesday, with Marks & Spencer (OTC:) stock soaring over 15% to their highest in two years after the British retailer beat forecasts for first-half profit and raised its full-year outlook, suggesting its latest attempt at an elusive turnaround is succeeding.

Alstom (PA:) stock climbed over 8% after the French train maker reported a smaller-than-expected cash outflow for the first half of its financial year, as it integrates the rail unit it bought from Canada’s Bombardier (OTC:).

Infineon stock rose 2.2% following the German chipmaker’s sharp increase in fourth quarter revenue. This was due to strong demand for its chips which can be found in every aspect of life, from mobile phones and cars to computers. The company also predicted a strong fiscal 2022.

ABN AMRO stock (AS:) gained 3.5% following the announcement by the Dutch bank of a stock purchaseback. This was in response to an unexpected 14% rise in profit for the third quarter. 

Adidas stock (OTC) fell 4.7% on the other side. The German sportswear manufacturer cut its full-year sales forecasts and profits estimates, citing disruptions in sourcing caused by Covid-19 epidemics, particularly in Vietnam.

Investments from both sides of the Atlantic are not focused on corporate earnings. Investors will keep an eye out for the announcement of Wednesday’s latest release. There is concern that the Federal Reserve will raise interest rates before they anticipate, due to high inflation.

Tuesday’s data showed that the October reading was at a 26-year peak, with a 4.5% increase on the year. That is quite a jump over September’s 3.1%. 

Crude oil prices rose Wednesday after unexpected 2.5 million barrels of stockpile reductions in the industry. This reinforces the belief that as more people demand, supply will be constrained.

An expected build of 1.9million barrels was anticipated. At 10:30 AM ET, the U.S. will release its data. 

By 3:30 AM ET, U.S. crude futures traded 0.1% higher at $84.25 a barrel, having gained 2.7% on Tuesday, while the contract rose 0.5% to $85.16, adding to the previous session’s 1.6% gain. Both contracts ended at their highest levels in over a month since Oct. 27.

Also, the price of gold fell 0.1% at $1,828.15/oz while it traded 0.2% lower to 1.1568.