European Shares Poised for Higher Open

European shares were poised for a higher open ahead of results from the likes of Volkswagen while another batch of weak U.S. data in the previous session reinforced the case for a stock-friendly U.S. rate cut.

Financial bookmakers expect Britain's FTSE 100 index to open up 11 to 16 points, Germany's DAX to be up 22 to 30 points and France's CAC 40 to gain 10 to 24 points.

Volkswagen, Software, Kaputhing Banki, Renewable Energy Corporation and Union Fenosa are among the companies reporting this session.

European shares ended higher on Thursday, boosted by telecom stocks and growing bets that the Federal Reserve will cut rates soon after a surprise fall in monthly orders for durable goods.

U.S. shares closed lower after more disappointing results on the corporate front but shares in Microsoft jumped about 5 percent after the bell when the software maker reported earnings that exceeded Wall Street's forecast and provided a strong outlook.