European stocks set to rally at the open as U.S.-Japan trade deal boosts global market sentiment

Good morning from London, and welcome to CNBC's live blog covering all the action and business news in European financial markets on Wednesday.

Futures data from IG suggest a positive open for European indexes, with London's FTSE 100 seen opening 0.6% higher, France's CAC 40 up 1.2%, Germany's DAX up 1%, and Italy's FTSE MIB 1.2% higher.

European stocks declined again Tuesday as investors digested earnings from some of the largest companies on the continent, and weighed the prospect of U.S. trade tariffs that will kick in on Aug. 1 unless a trade deal is reached.

Overnight, Asia-Pacific markets traded higher after U.S. President Donald Trump announced that he had completed a “massive Deal” with Japan, with a baseline tariff of 15% set on the country's exports to the United States. S&P 500 futures were little changed Tuesday evening after the announcement.