European stock futures higher; BoE meeting in focus By

- European stock markets are Domestic foreign exchange platformexpected to open higher Thursday, as investors digest the latest U.S. inflation figures ahead of the latest Bank of England policy-setting meeting.

At 02:00 ET (06:00 GMT), the contract in Germany traded 0.2% higher, in France climbed 0.2% and the contract in the U.K. rose 0.1%.

Data released Wednesday showed that rose at a slower-than-expected pace in April, raising hopes that the Federal Reserve's interest rate hiking cycle is close to an end. 

This helped the tech-heavy index close 1% higher on Wall Street Wednesday, and this positive sentiment is expected to filter through to the European market on Thursday.

That said, gains are likely to be limited after softer-than-expected data pointed to a slowing economic rebound in Asia’s largest economy and a major export market for Europe’s largest companies.

Back in Europe, the holds its latest policy-setting meeting later in the session, with its policymakers expected to authorize a 12th consecutive rate hike as U.K. inflation remains in double figures, the highest of any major economy.

In corporate news, Merck KGaA (ETR:) warned that its operating earnings could decline by as much as 10% this year as the German science and technology company’s outlook for its specialty chemicals business darkened.

Thyssenkrupp (ETR:), by contrast, raised the outlook for its closely watched free cash flow before mergers and acquisitions, expecting it to turn positive for the first time in seven years.

Earnings are also due from the likes of (LON:), Bayer (ETR:), Deutsche Telekom (ETR:), RWE (ETR:) and Prada SpA (HK:).

Oil prices rose Thursday, bouncing after recent losses after stronger-than-expected fuel demand data from the United States, the world's top oil consumer. 

Official U.S. data from the showed that crude inventories rose by almost 3 million barrels last week. 

However, fell by 3.2 million barrels, much more than the 1.2 million expected, while U.S. jet fuel demand rose to its highest level since December 2019, suggesting demand for transport fuels remains resilient in the U.S.

By 02:00 ET, futures traded 1% higher at $73.28 a barrel, while the contract climbed 1% to $77.18.

Additionally, rose 0.1% to $2,038.35/oz, while traded marginally lower at 1.0978.

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