This is a live blog from CNBC covering European markets.
European markets are set to open higher on Friday morning as investors wait for economic data from the UK to reflect a somewhat uncertain US inflation outlook.
According to IG data, the UK's FTSE 100 index is expected to open 31 points higher at 7,949, Germany's DAX rises more than 100 points to 18,051, France's CAC rises 47 points to 8,064 and Italy's FTSE MIB is expected to rise 150 points to 33,212.
The market move followed the pan-European Stoxx 600 index, which ended lower in the previous session.
The European Central Bank on Thursday held interest rates on hold for the fifth consecutive meeting despite uncertainty over the U.S. Federal Reserve's next move, giving the clearest signal yet of future rate cuts.
In the United States, investors scoured the latest inflation data for clues about exactly when the U.S. central bank will start cutting interest rates.
The Producer Price Index, which measures wholesale-level prices, was lower than expected in March, the Labor Department's Bureau of Labor Statistics said Thursday. The PPI rose 0.2% for the month, below the Dow Jones consensus estimate of 0.3% and less than February's 0.6% rise.
This could have provided some comfort to investors who had been hoping the Fed would start easing policy, but the data came a day after the better-than-expected March consumer inflation report, and the Fed's Concerns were raised that interest rates would remain high.
In Europe, market participants on Friday are likely to closely monitor February UK gross domestic product (GDP) statistics and the International Energy Agency's monthly oil market report.
—CNBC's Jeff Cox contributed to this report.
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European Market: Click here for opening call
European markets are poised to open in favorable regions on Friday.
According to IG data, the UK's FTSE 100 index is expected to open 31 points higher at 7,949, Germany's DAX rises more than 100 points to 18,051, France's CAC rises 47 points to 8,064 and Italy's FTSE MIB is expected to rise 150 points to 33,212.
Investors are keeping an eye on February's UK gross domestic product (GDP) statistics and the International Energy Agency's monthly oil market report.
— Sam Meredith