During European morning trade, the EURO STOXX 50 gained 0.35%, France’s CAC 40 edged up 0.20%, while Germany’s DAX 30 rose 0.35%.
On Thursday, ECB President Draghi said the bank expects to maintain interest rates at current or lower levels for an “extended” period of time.
Draghi said risks to growth in the euro zone remain “on the downside” and added that monetary policy will remain accommodative for as long as is necessary.
The comments came after the ECB left interest rates on hold at record lows of 0.5%.
Investors were awaiting Friday’s closely watched U.S. nonfarm payrolls report for further clues on when the Federal Reserve may decide to unwind its USD85 billion-a-month stimulus program.
Financial stocks were broadly higher, as French lenders BNP Paribas and Societe Generale surged 1.71 and 2.32%, while Germany's Deutsche Bank advanced 0.71%.
Peripheral lenders added to gains, with Spanish bank Banco Santander climbed 0.58%, while Italy's Intesa Sanpaolo and Unicredit jumped 1.54% and 1.83%.
On the downside, Heineken retreated 0.95% after JPMorgan downgraded the stock to "underweight" from "neutral".
In London, FTSE 100 added 0.19%, as U.K. lenders tracked their European counterparts higher.
Shares in Lloyds Banking advanced 0.41% and Barclays climbed 0.48%, while HSBC Holdings gained 0.74% and the Royal Bank of Scotland surged 2.79%.
Meanwhile, mining stocks were broadly lower, as BHP Billiton and Rio Tinto lost 0.38% and 0.39% respectively, while Anglo American fell 0.24%.
In the U.S., equity markets pointed to a sharply higher open. The Dow Jones Industrial Average futures pointed to a 1.03% jump, S&P 500 futures signaled a 1.07% rally, while the Nasdaq 100 futures indicated a 1.10% surge.
Later in the day, Germany was to produce official data on factory orders.
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