European markets are set to open higher on Friday after a rally on Wall Street overnight following a rise in the oil price.
London's FTSE 100 is called 42 points higher at 6,055, the German DAX is seen up 80 points at 9,411, while the CAC 40 in France is expected to open up 32 points at 4,280.
The positive opening calls comes as the Group of 20 (G-20) meet in Shanghai to try and assuage fears over global economic growth. The Organisation for Economic Co-operation and Development (OECD) has urged the G20 to come up with an urgent policy response to stuttering growth, echoing a similar call from the International Monetary Fund.
Analysts said that this has helped to push markets higher this week
"Today's and the weekend focus is likely to be on the upcoming G20 meeting in Shanghai coming at a time when concerns about the Chinese economy have roiled global markets," Michael Hewson, chief market analyst at CMC Markets, wrote in a note on Friday.
"The recent call by the IMF earlier this week, followed by the OECD this morning, for the G20 to take bold action at their meeting this weekend could also be a factor behind the rebound in the latter part of this week, at a time when data showed that global trade slowed sharply in 2015, led largely by a slowdown in emerging markets."
While oil prices were slightly lower on Friday, they did see a sharp bounce the day before, which helped push stocks higher.
CNBC
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