European stocks are expected to open higher Friday morning, as investors monitored a fresh batch of corporate earnings.
Looking to the major bourses, the U.K.’s FTSE 100 is expected to open 14 points higher at 7,568, while the German DAX is set to start on a positive note, up 36 points at 13,475, and the French CAC is poised to open little changed at around 5,508, according to IG.
Corporate earnings season continues to be in full swing, with several companies scheduled to post their latest figures. Societe Generale and Air France are both among the major companies scheduled to report Friday.
Stateside, Apple‘s stock reached new highs after it projected holiday sales would surpass market expectations, a likely positive for companies exposed to the tech giant in Europe. Meantime, President Donald Trump confirmed Jerome Powell would run the Federal Reserve once current Chair Janet Yellen‘s term expires. The move was well flagged and was not expected to disturb a roaring stock market.
Elsewhere, sterling inched up against the dollar on Friday morning, after it took a hammering overnight in the wake of the Bank of England‘s decision to raise interest rates. The BOE indicated that it would only gradually raise interest rates again in the future. The U.K. currency slipped 1.45 percent against the dollar in the previous session and was hovering at $1.3073 shortly before the market open.
Oil prices edged back towards recent two-year peaks on Friday as OPEC-led supply cuts tightened supplies and drained inventories. Brent crude was 0.23 percent higher at $60.76 a barrel, while WTI was up around 0.4 percent at $54.77 a barrel before the opening bell.
Source: cnbc
European markets seen higher amid earnings; BOE hikes rates for first time in 10 years