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European Shares Set to Open Higher

European stocks are set to open higher on Friday, taking cue from a late rebound on beaten-down financial shares in the United States that pulled Wall Street well above its worst levels of the day.

Financial bookmakers in London expect Britain's FTSE 100 to open up 18 to 23 points, Germany's DAX to rise 48 to 53 points and France's CAC 40 to be 10 and 32 points higher.

The FTSEurofirst 300 index of top European shares closed on Thursday 0.5 percent lower at 1,535.81, its lowest closing level in six weeks as persistent credit fears continued to pull banking stocks lower.

Asian markets were mixed, with Japanese stocks ending at a nearly three-month closing low but some other markets were higher.

Allianz, KBC and Belgacom will lead the corporate reporting front. Investors will also keep an eye on University of Michigan consumer sentiment survey due later in the session.