European stocks look set to open higher on Friday, with early-morning data showing the U.K. economic growth stalled in July.
Futures tied to the regional Stoxx 50 index were last seen trading around 0.3% higher. Those linked to London’s FTSE 100 were also up by 0.3%, as were those bound to Germany’s DAX index and the French CAC 40.
Data released on Friday morning showed that the U.K. economy recorded zero growth in July, following a 0.4% economic expansion the previous month. The economic flatlining adds to the Bank of England’s considerations as it prepares to update its monetary policy next week.
On Thursday, the European Central Bank left its key interest rate unchanged in a highly anticipated move.
In corporate news, Spanish lender Sabadell’s board unanimously recommended the bank’s shareholders reject a hostile takeover bid from domestic peer BBVA.
Elsewhere, Ryanair CEO Michael O’Leary told the Financial Times the budget airline was prepared to cut a further 1 million tickets to Spain amid an ongoing row over the country’s taxation policies.
Overnight in Asia, stocks were broadly higher, while U.S. futures were little changed.
International investors are looking ahead to the U.S. Federal Reserve’s Federal Open Market Committee, slated to take place on Sept. 16 and 17.
Money markets are overwhelmingly pricing in a 25-basis-points rate cut from Fed policymakers when they convene next week, according to the CME’s FedWatch tool. U.S. core inflation rose to 3.1% on an annual basis in August, data showed on Thursday, paving the way for the Fed to cut its key interest rate.
