FX.co ★ European Stocks Set for Positive Open

European equity markets were set to open higher on Thursday as investors awaited the European Central Bank’s latest policy decision, with the ECB widely expected to deliver its second 25-basis-point rate hike of the year. Attention was also turning to key US inflation data that could solidify expectations of a Federal Reserve rate increase next week. At the same time, markets continued to grapple with elevated oil prices amid escalating tensions between the US and Iran, stoking inflation worries and reinforcing forecasts for near-term rate hikes. Elsewhere, investors were poised to track Germany’s final August inflation figures, as well as July industrial production data from Italy and Spain. In premarket trading, Euro Stoxx 50 futures rose 0.3%, while Stoxx 600 futures added 0.1%.