Stocks To Open Higher On Sentiment From ECB Meeting.

The expectation that the European Central Bank may pause its cycle of monetary tightening as soon as September is likely to boost European stock markets at the opening on Friday, maintaining the upbeat tone from the previous session.

Although it was generally anticipated that the ECB would increase interest rates by 25 basis points on Thursday, hitting a 23-year high, President Christine Lagarde shocked the market by suggesting that this tightening trend, which has seen rates rise nine times in a row, may soon be coming to an end.

"Do we still need to cover additional ground? Lagarde stressed that the ECB's actions will depend on new data at the news conference that followed the most recent rate rise. "At this time, I wouldn't say so," Lagarde added.

Today, investors will have access to a variety of economic information, including significant inflation statistics from the eurozone's two biggest economies, France and Germany.

Data made public earlier revealed that North Rhine-Westphalia, the most populous state in Germany, saw lower-than-expected annual inflation of 5.8%, or 0.2%, in July.

In addition, French GDP increased by 0.5% in the second quarter, which was higher than predicted and an improvement over the previously reported 0.1% rise.

After reports showed that the U.S. economy expanded faster than anticipated in the second quarter, easing concerns that a recession may potentially dampen oil demand this year, oil prices fell back Friday from recent highs but continued to rise.

The report also came as there were growing indications of tightness in the oil market as Saudi Arabia's and Russia's production curbs started to take effect.

(Sources: investing.com, reuters.com)