US stocks have opened higher on news of a truce in Ukraine and ahead of a European Central Bank decision that could bring new monetary stimulus to the eurozone.

Five minutes into trade on Wednesday, the Dow Jones Industrial Average advanced 67.17 points (0.39 per cent) to 17,134.73.

The broad-based S&P 500 added 6.06 (0.30 per cent) at 2,008.34, while the tech-rich Nasdaq Composite Index rose 10.62 (0.23 per cent) to 4,608.81.

Ukrainian President Petro Poroshenko announced a truce agreement with Russian President Vladimir Putin, but the Kremlin denied any formal deal yet, only saying the two sides were “very close” to agreement on halting the fighting in eastern Ukraine.

“The market looks to be accepting of the positive talk,” said Briefing.com analyst Patrick O’Hare.

Analysts are also anticipating Thursday’s ECB announcement, which could yield fresh stimulus in light of weak eurozone data. Equity markets in Britain, France and Germany were all higher Wednesday.