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European markets set to open higher following UBS earnings

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European markets are set to open higher as investors assess UBS earnings.

European markets are poised to open higher Thursday after UBSUBS posted a second-quarter profit of $28.88 billion, well exceeding projections of $12.8 billion made by analysts polled by Reuters.

The pan-European Stoxx 600 index closed slightly lower Wednesday as investors reacted to economic data out of Germany and Spain. Spain reported flash inflation up 2.6% year on year for August, in line with analyst expectations, while Germany reported a 13.2% drop in imports for the year to July, the sharpest drop since January 1987.

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