Europe seen mixed as Greece fears subside

European equities are expected to open mixed on Wednesday as investor concerns over Greece subside after the euro zone gave its list of reforms the green light.

European markets are expected to take a breather from recent concerns that Greece could be on a collision path with its international lenders after the country presented a list of reforms that met the approval of its creditors and euro zone neighbors.

The approval means that Greece has secured a four-month extension to its bailout program that was due to end in a matter of days although the International Monetary Fund and European Central Bank who oversee the country's bailout said the reform plans needed greater clarity.

Investors will also keep an eye on U.S. Federal Reserve Chair Janet Yellen's testimony before Congress that concludes Wednesday.

The key headline for many out of Yellen's remarks on Tuesday was the dismissal of a rate hike for "at least the next couple of FOMC meetings." Today, Yellen will address the House Financial Services Committee on Wednesday.

In Asia, equities were higher across the board on Wednesday after a modestly higher close on Wall Street overnight and as China's manufacturing sector surprised markets with growth for the first time in three months.

In Ukraine, pro-Russia separatists brought reporters on Tuesday to witness the withdrawal of heavy weapons from the front line in east Ukraine under a ceasefire deal, but Ukraine said the rebels were using the cover of the truce to reinforce for another advance, Reuters reported late Tuesday.

Earnings are due from Lego Group, Suez Envronnement, AXA, Fresenius, Euronext, United Company Rusal, Telefonica, TSB, Barratt Developments, Petrofac, Weir Group and Henderson.