European stocks opened higher on Friday, with investors awaiting U.S. non-farm payroll data to place bets on central bank tightening, while also bracing for any change in central bank stance. European at its meeting next week.
The pan-European STOXX 600 index was up 0.4% by 0707 GMT, allowing it to erase almost all of its weekly losses.
Investors are hoping that any signs of a slowdown in the US labor market could prompt the Federal Reserve to adopt a less aggressive monetary policy.
Meanwhile, this week’s data showing record inflation in the euro zone has spurred bets that the ECB could be forced to tighten monetary policy sooner or make higher interest rate hikes.
The central bank has so far signaled plans to start raising rates in July to hit 0% or higher in September.
Healthcare and luxury stocks drove the STOXX 600 in early trading.
Meanwhile, French auto parts supplier Faurecia fell 3.5% to the bottom of the index. The company said it had launched a 705 million euro ($758 million) capital increase to finance the acquisition of German competitor Hella.
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