Economic calendar: API oil report, earnings from Booking and Ebay

• European stock markets opened slightly higher

• West imposes sanctions on Russia

• Earnings from Booking and Ebay

European stock markets launched today's trading little changed compared to yesterday's cash close. Majority of indices from Western Europe trade slightly higher. Russia-Ukraine tensions remain on top of the agenda after Western countries started to impose sanctions on Russia yesterday. The Russian RTS index (RUS50) will be on watch today. World is also awaiting the next move from Russia. However, the United Kingdom warned Russia that if it escalates the situation in the Ukraine, sanctions will escalate as well.

Apart from that, there is little to focus on in the economic calendar. Final CPI data from the euro area for January will be published as well as an API report on oil inventories. Booking Holding and Ebay are among today's top earnings reporters.

9:00 am GMT - Poland, unemployment rate for January. Expected: 5.6%. Previous: 5.4%

10:00 am GMT - Euro area, CPI inflation for January (final). First release: 5.1% YoY

9:40 pm GMT - API report on oil inventories. Expected: 0.8 mb. Previous: -1.07 mb

Central bankers' speeches

• 11:30 pm GMT - ECB de Guindos

• 4:00 pm GMT - ECB Schnabel

• 5:00 pm GMT - BoE Tenreyro

Top Wall Street earnings

• Booking Holding (BKNG.US) - after market close

• Ebay (EBAY.US) - after market close

• Lowe's Companies (LOW.US) - before market open