European stocks higher despite Fed jitters; Dax up 0.14%

European stocks were higher in light trade on Friday, although concerns over the future of the U.S. stimulus program following comments by Federal Reserve Chairman Ben Bernanke persisted. 

During European morning trade, the EURO STOXX 50 added 0.29%, France’s CAC 40 climbed 0.52%, while Germany’s DAX 30 edged up 0.14%. 

Stocks remained under pressure after Fed Chairman Ben Bernanke said the bank could begin slowing asset purchases by the end of 2013 and wind them down completely by the middle of 2014 if the economy picks up as the central bank expects. 

On Thursday, the euro zone manufacturing purchasing manager's index rose to 48.7 in June from a final reading of 48.3 in May, but remained well below the 50 level that separates contraction from expansion.

Service sector activity in the euro zone improved to a 15-month high in June, with the services PMI rising to 48.6 from 47.2 in May, above expectations for an increase to 47.5. 

Financial stocks were broadly higher, as shares in French lenders BNP Paribas and Societe Generale jumped 1.04% and 0.73%, while Germany's Deutsche Bank rallied 1.19%. 

Peripheral lenders added to gains, with Spanish banks BBVA and Banco Santander climbing 0.46% and 0.60% respectively, while Italy's Intesa Sanpaolo and Unicredit advanced 0.84% and 1.27%. 

In London, FTSE 100 gained 0.46%, as U.K. lenders tracked their European counterparts higher. 

Shares in HSBC Holdings climbed 0.57% and Barclays rose 0.67%, while Lloyds Banking jumped 1.12%. The Royal Bank of Scotland underperformed on the other hand, sliding 0.74%. 

Mining stocks were also on the upside, as BHP Billiton and Rio Tinto rallied 0.74% and 1.45% respectively, while Glencore and Antofagasta surged 1.52% and 1.57%. 

In the U.S., equity markets pointed to a hiher open. The Dow Jones Industrial Average futures pointed to a 0.58% increase, S&P 500 futures signaled a 0.67% advance, while the Nasdaq 100 futures indicated a 0.45% gain. 

Trading volumes were expected to remain light, as no U.S. data was scheduled to be released throughout the day.