Europe's main stock markets are trading in the green on Tuesday morning, in a volatile session where caution remains the order of the day ahead of a speech scheduled for later in the day by Jerome Powell, Chairman of the US Federal Reserve (Fed).

In Paris, the CAC 40 climbed 0.08% to 7,142.54 points around 08:50 GMT. In London, the FTSE 100 was ahead by 0.44%, thanks to basic resources and BP's results. In Frankfurt, the Dax gained 0.07%.

The EuroStoxx 50 index gained 0.15%, the FTSEurofirst 300 0.26% and the Stoxx 600 0.3%.

Futures contracts on the main US indices are currently pointing to a very slight decline, following a close in the red, still linked to questions about the Fed's rate path after the publication of monthly job creation figures in the US that were well above expectations.

Jerome Powell is due to speak at 5:40 pm GMT at an event organized by the Economic Club of Washington. Investors are hoping he will comment on the latest US economic indicators, as markets now expect the Fed's key rate to peak at 5.1% by July, up from 4.9% before the jobs report.

Monetary policy decisions are also expected this Tuesday in Sweden and Australia.

In today's economic statistics, France's trade deficit widened in 2022 due to the energy bill. In Germany, industrial production fell more than expected in December.

In corporate news, quarterly publications are driving trading, starting with BNP Paribas

which gained 1.54% despite below-expected fourth-quarter results. The leading French bank nonetheless raised several of its financial targets to 2025, while its sector index (+0.75%) posted the best performance of the Stoxx 600.

Elsewhere in Europe, BP jumped 4.09%. On Tuesday, the British oil group forecast record profits of $27.6 billion (€25.72 billion) for 2022, against a backdrop of soaring energy prices, and raised its dividend by 10%.

Danish brewer Carlsberg is down 1.04% after lower-than-expected quarterly sales and a lower-than-expected profit forecast for this year. (Written by Claude Chendjou, edited by Kate Entringer)