European stock markets are expected to recover after an unexpected rate cut in China. The Eurostoxx 50 opens at 3,640.55 points (-1.36%), the CAC 40 at 6,272.71 points (-1.26%), the DAX 40 at 13,882.30 points (-0.90%), the FTSE 100 at 7,302.74 points (-1.82%), the SMI at 11,309.49 points (-2.33%), the AEX at 678.35 points (-2.12%), the BEL 20 at 3,892.73 points (-1.88%), the IBEX 35 at 8,406.00 points (-0.83%), the DJIA at 31,253.13 points (-0.75%), the Nasdaq at 11,388.50 points (-0.26%), the S&P 500 at 3,900.79 points (-0.58%) and the Nikkei 225 at 26,719.39 points (+1.20%).

As regarding exchange rates, the change from the close in New York indicates that EUR/USD opens at 1.0574 (-0.11%), EUR/JPY at 135.04 (-0.20%) and USD/JPY at 127.71 (-0.09%).

European equity markets are expected to rebound at the opening on Friday, supported by the unexpected decision of the People's Bank of China (PBOC) to lower one of its benchmark interest rates. At 7:35 a.m., the CAC 40 futures contract gained 62 points, or 1%, according to data from broker IG Markets. The CONTRACT on the DAX 40 was up 147 points, or 1.1%, and the FTSE 100 contract was up 87 points, or 1.2%. After these announcements, Asian stock markets are gaining ground. At the end of the session, the Shanghai Composite Index gained 1.4% and, in Hong Kong, the Hang Seng climbed 2.2%.

The Nikkei index of the Tokyo Stock Exchange was up 1.2%, after the release of inflation figures in Japan in April. Consumer prices in Japan rose last month by more than 2% for the first time in more than 13 years. Despite this performance, the Bank of Japan (BOJ) is expected to continue its policy of keeping interest rates close to zero. The central bank and outside economists believe that Japanese household demand remains relatively weak and inflation is unlikely to exceed the BOJ's 2% target. In addition to these economic indicators, investors will be paying attention on Friday to statements by G7 finance ministers and central bankers meeting in Bonn, Germany.

Thursday, Wall Street closed in the red, driven by fears about tighter monetary policy and the impact of inflation on corporate margins. The Dow Jones Index (DJIA) lost 0.8% to 31,253.13 points, and the broader S&P 500 index fell 0.6% to 3,900.79 points. The tech-rich Nasdaq Composite lost 0.3% to 11,388.50 points after its rout the day before.

The yield on ten-year U.S. Treasury bonds fell to its lowest level in a week on Thursday as investors sought the safety of government bonds.

The euro fell on Friday against the dollar after reaching its highest level in two weeks after the publication on Thursday of the minutes of the latest monetary policy meeting of the European Central Bank (ECB), which suggested a high probability of raising interest rates in July in response to high inflation.

Oil futures are pulling back Friday morning as investors fear China will buy Russian oil. At 7:25 a.m., the July Contract for North Sea Brent lost 46 cents to $111.58 a barrel. The same maturity on light sweet crude (WTI) listed on the Nymex was down 73 cents, at $109.16 a barrel.