Major stock markets in Europe opened higher on Wednesday, setting sights on economic data scheduled to be released later in the day.

The Euro area's consumer price index (CPI) will be revealed today, as the European Central Bank confirmed further raises in interest rates, while consumer confidence in the Eurozone increased in November. At the same time, Germany will publish its unemployment rate, as Deutsche Bank AG yesterday warned that the country's core inflation rate might remain high at 8.1% this year.

The DAX traded 0.47% higher at the opening as Infineon gained 1.31%. The FTSE 100 went up by 0.57%, as Rolls-Royce jumped 1.28%. The CAC 40 rose by 0.62%, with Worldline leading the gains by 1.38%.

The euro rose by 0.32% against the dollar, going for $1.03584 at 9:03 am CET. At the same time, the pound sterling gained 0.26% over the greenback, selling for $1.19776.