European markets are expected to open higher following the ECB's rate reduction.

The European Central Bank's decision to cut rates has led to investors' anticipation of higher European stock openings on Friday.

According to IG data, the U.K.'s stock market is seen opening 1 point higher at 8,239, France's stock market is up 20 points at 7,448, Germany's stock market is 57 points higher at 18,563, and Italy's stock market is up 41 points at 33,484.

The European Central Bank reduced its key interest rate to 3.5% on Thursday, following a 25-basis-point cut in rates that was anticipated.

Despite policymakers' lack of clear indication on the direction of monetary policy, President Christine Lagarde stated that the bank was not committed to a specific rate path.

The ECB's meeting is scheduled for days before the U.S. Federal Reserve's Sept. 17-18 meeting, where it is predicted that the Fed will commence its own rate-cutting cycle.

Overnight, U.S. stock futures remained relatively unchanged following the S&P 500's fourth consecutive day of gains.

Meanwhile, Asia-Pacific markets exhibited mixed performance, with mainland Chinese markets recovering from a six-year low and Australian markets nearing an all-time high.

Inflation figures from France will be released on Friday, while there are no corporate earnings in Europe.