Investing.com - European stocks were steady to higher on Friday, as comments by European Central Bank President Mario Draghi continued to support equities and investors awaited the release of a highly anticipated U.S. employment report due later in the day.
During European morning trade, the DJ Euro Stoxx 50 inched 0.01% higher, France’s CAC 40 eased up 0.03%, while Germany’s DAX added 0.17%.
European equity markets found support after Draghi said on Thursday that the ECB would soon begin purchasing asset-backed securities to prop up the economy.
The program will run for two years and have a "sizeable impact" on the ECB’s balance sheet, Draghi said.
He added that the governing council is unanimously committed to taking further "timely measures" if needed, which sent the euro dropping.
Investors were now looking ahead to the release of the U.S. nonfarm payrolls report later Friday, for further indications on the strength of the recovery in the labor market.
On Thursday, data showed that the number of people who filed for unemployment assistance in the U.S. last week fell more than expected.
Financial stocks were broadly lower, as French lenders BNP Paribas (PARIS:BNPP) and Societe Generale (PARIS:SOGN) declined 0.61% and 1.39%, while Germany's Deutsche Bank (XETRA:DBKGn) tumbled 1%.
Among peripheral lenders, Italy's Unicredit (MILAN:CRDI) and Intesa Sanpaolo (MILAN:ISP) dropped 0.44% and 0.53% respectively, while Spanish banks BBVA (MADRID:BBVA) and Banco Santander (MADRID:SAN) slid 0.43% and 0.60%.
On the upside, Allianz (XETRA:ALVG) saw shares surge 3.40% after the German insurer pledged to pay a higher share of profit to shareholders and confirmed its full-year profit target.
In London, FTSE 100 gained 0.53%, led by Experian (LONDON:EXPN), up 2.75% after the global services information group reported on Thursday a boost in half-year profits, cash flow and interim dividend.
Mining stocks added to gains, as Bhp Billiton (LONDON:BLT) and Glencore Xstrata (LONDON:GLEN) jumped 1.57% and 1.67% respectively, while Fresnillo (LONDON:FRES) and Rio Tinto (LONDON:RIO) rallied 2.03% and 2.06%.
In the financial sector, stocks were mixed. Shares in the Royal Bank of Scotland (LONDON:RBS) dipped 0.05% and Lloyds Banking (LONDON:LLOY) slipped 0.14%, while Barclays (LONDON:BARC) and HSBC Holdings (LONDON:HSBA) edged up 0.15% and 0.17% respectively.
In the U.S., equity markets pointed to a higher open. The Dow 30 futures pointed to a 0.13% rise, S&P 500 futures signaled an 0.13% gain, while the NASDAQ 100 futures indicated a 0.27% increase.
Also Friday, official data showed that French industrial production was flat in September, compared to expectations for a 0.2% fall, after a 0.2% decline the previous month.
Later in the day, the U.S. was to release a report on nonfarm payrolls and the unemployment rate.