BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - European stocks are likely to open higher on Friday even as China virus fears persist, raising concerns that the outbreak of coronavirus will dampen consumption in China.
At least eight cities have been shut down -- Wuhan, Ezhou, Huanggang, Chibi, Qianjiang, Zhijiang, Jingmen and Xiantao - all in central China's Hubei province, as the total number of coronavirus cases in mainland China rose to 830 and the death toll to 26.
Asian markets held steady, with financial markets in China, Taiwan and South Korea closed for the Lunar New Year holiday.
Risk sentiment was underpinned after the World Health Organization determined that the outbreak of the SARS-like coronavirus spreading rapidly across China is not yet a global health emergency.
The euro hovered near a seven-week low after ECB President Christine Lagarde struck a slightly dovish tone than some had expected. Gold inched lower while oil prices rose marginally but remained on track for a loss of up to 5 percent for the week.
Flash Purchasing managers' survey data from euro area and the U.K. are due later in the session, headlining a light day for the European economic news.
It's a quiet day on the U.S. economic front, with trading likely to be impacted by reaction to the latest batch of earnings news.
Semiconductor giant Intel (INTC) is among the companies releasing their quarterly results after the close of today's trading, while American Express (AXP) is due to report its results before the opening bell.
U.S. stocks recovered from an early slide to end mostly higher overnight after the World Health Organization (WHO) announced it was 'a bit too early' to declare the coronavirus a global health emergency.
The Dow edged down 0.1 percent, while the Nasdaq Composite rose 0.2 percent and the S&P 500 inched up 0.1 percent.
European markets fell on Thursday after ECB President Christine Lagarde said that risks surrounding the euro area growth outlook remain tilted to the downside.
The pan European Stoxx 600 gave up 0.7 percent. The German DAX and the U.K.'s FTSE 100 both shed around 0.9 percent while France's CAC 40 index declined 0.7 percent.
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