European stocks are set to open higher on Friday morning, buoyed by upbeat earnings from U.S. tech giants and the prospect of continuing stimulus in Europe.
Looking to the major bourses, the U.K.’s FTSE 100 is expected to open 4 points higher at 7,489, while the German DAX is set to start on a positive note, up 55 points at 13,200, and the French CAC is poised to open up 20 points at 5,478, according to IG.
Corporate earnings season continues to be in full swing, with several companies scheduled to post their latest figures. RBS, Volkswagen and Total are among the major companies scheduled to report on Friday.
Stateside, Alphabet, Microsoft and Amazon all reported better-than-anticipated earnings Thursday. The world’s second, third and fifth largest companies in terms of market capitalization saw their stocks shoot up after the closing bell.
Back in Europe, the European Central Bank (ECB) said Thursday it would cut back with its scheme designed to boost the economies in the euro zone. From January 2018, the ECB is poised to reduce the amount of bonds it purchases every month to 30 billion euros ($35 billion) from the current level of 60 billion euros. The central bank also said it would extend its monetary stimulus program until at least September next year.
On the data front, policymakers at Russia’s central bank are due to announce their latest decision regarding the country’s interest rates shortly before midday.
European markets set to open higher after upbeat earnings from Wall Street tech giants