European stocks turn higher on ECB easing hopes; Dax up 0.19%

European stocks turned broadly higher on Friday, as a recent string of disappointing data out of the euro zone sparked expectations for an additional rate cut by the European Central Bank. 

During European afternoon trade, the EURO STOXX 50 edged up 0.28%, France’s CAC 40 climbed 0.41%, while Germany’s DAX 30 added 0.19%. 

Official data confirmed on Thursday that consumer price inflation in the euro zone fell 0.1% in April from the previous month, with the annual rate of inflation slowing to 1.2% from 1.7% in March.

A separate report showed that the euro zone posted a record trade surplus in March as imports fell 1% from February, while exports grew 2.8%.

On Wednesday, data showed that the euro zone economy contracted by 0.2% in the three months to March bringing the annualized rate of decline to 0.9%. 

Meanwhile, markets were jittery after John Williams, president of the Federal Reserve Bank of San Francisco, said the Fed could begin reducing its monetary easing this summer and end bond buying late this year. 

Financial stocks turned broadly higher, as French lenders BNP Paribas and Societe Generale jumped 1.81% and 1.72%, while Germany's Deutsche Bank climbed 0.49%. 

Peripheral lenders added to gains, with Spanish bank Banco Santander adding 0.37%, while Italy's Intesa Sanpaolo and Unicredit rallied 0.68% and 1.17% respectively. 

Elsewhere, FLSmidth & Co. A/S plummeted 8.58%, extending earlier losses the maker of cement production lines reported profit and sales that missed analysts’ estimates for the first quarter. 

In London, FTSE 100 rose 0.34%, as U.K. lenders tracked their European counterparts higher. 

Shares in HSBC Holdings gained 0.49% and Barclays climbed 0.66%, while Lloyds Banking and the Royal Bank of Scotland rallied 1.76% and 1.98%. 

Mining stocks were also broadly higher, as Rio Tinto and BHP Billiton advanced 0.89% and 1.40% respectively, while Anglo American surged 1.79%. 

In the U.S., equity markets pointed to a higher open. The Dow Jones Industrial Average futures pointed to a 0.25% increase, S&P 500 futures signaled a 0.25% rise, while the Nasdaq 100 futures indicated a 0.12% gain. 

Later in the day, the U.S. was to release preliminary data from the University of Michigan on consumer sentiment and inflation expectations.