On Wednesday European stocks rose for a second day as better-than-estimated results from A.P. Moeller-Maersk A/S to Hermes International SCA boosted confidence in the economic recovery. Asian shares and US index futures also gained.

Maersk jumped 4.5% as the owner of the world’s largest container line said net income surged 85%. Hermes gained 7.8% after sales increased as wealthy consumers purchased more luxury watches and fragrances. ITV Plc slid 3.2% as the U.K.’s biggest commercial broadcaster forecast slowing advertising revenue growth.

European shares edged up in early trade, tracking Wall Street higher, as earnings reports on both sides of the Atlantic beat forecasts. But strategists warned that issues such as the euro zone debt crisis may keep share markets rangebound.

The FTSEurofirst 300 index of top European shares was up, after rising 0.8% to a one-week closing high in the previous session. The European benchmark is up more than 78% from its lifetime low of March, 2009, helped by the monetary easing polices of governments and central banks worldwide. However, it has recently traded in a range set by its 2011 high in mid-February and a low in mid March. Dexia rose 4.5%, helped by a better than expected first-quarter performance at its retail banking operations in Belgium and Turkey, and strong performance in its asset management business.

HSBC fell after Europe’s biggest bank said it is reviewing its US cards business and streamlining its wealth management and retail banking operations as it eyes savings of up to $3.5 billion.

Japanese stocks gained for a second straight day after the yen weakened and companies said the outlook for earnings has improved, boosting confidence about the global economic recovery.