FTSE, DAX, CAC Seen Higher

European shares are seen opening higher as the full effect of the European Central Bank’s Long Term Refinancing Operation (LTRO) eases market concerns.

Close-up of a pen on stock price chart
Close-up of a pen on stock price chart

The FTSE 100 is seen opening higher by 8 points, the DAX higher by 22 points and the CAC 40 higher by 14 points.

ECB President Mario Draghi said the bank was “reasonably satisfied” with its offer of half a trillion euros of cheap funds to lenders, and that Europe is on a fragile path to recovery.

At a European Union summit on Thursday – the first for some time not dominated by Greece – reports suggest that disagreement arose between leaders over the balance between austerity and reviving lost growth in the euro zone.

Oil prices had spiked earlier Friday after unconfirmed reports of a Saudi oil pipeline explosion, but the reports were dismissed after a Saudi official told CNBC they were untrue.

In earnings news, France’s Areva reports fourth-quarter results at 8:45 a.m. Central European Time (2:45 a.m. New York time).

Iran will see a nationwide parliamentary vote on Friday, that country’s first elections since a disputed 2009 presidential ballot that sparked protests across the country.