European shares are expected to open higher on Friday, with futures for the Stoxx 50 up by 0.9%, London's FTSE 100 up 0.4%, German DAX futures gaining 0.9%, and French CAC 40 futures increasing by 0.8%. This positive momentum could mark the fourth consecutive day of gains for regional stocks, with the pan-European Stoxx 600 on track for a weekly rise of 2.25%.
Investors are closely monitoring the ongoing negotiations between the U.S. and Iran, particularly after reports that Iran intends to retain enriched uranium, raising concerns about a prolonged conflict that could disrupt oil supplies. Consequently, oil prices have surged, with Brent crude trading slightly above $104 a barrel.
Additionally, key economic data is anticipated, including the GfK German Consumer Confidence report for June, which will provide insights into the impact of rising energy costs on consumer sentiment in Germany. Similar reports for the U.K. and business confidence data from France are also expected.
In corporate news, Estée Lauder's shares rose over 10% in after-hours trading following the announcement that it and Puig have ended their merger talks