(MENAFN- AFP) European stock markets squeezed out further gains on Friday after a strong trading week for the region that saw the main Paris index hit one-year highs.
Around 1115 GMT, London's benchmark FTSE 100 index climbed 0.2 percent compared with Thursday's close.
In the eurozone, the Paris CAC 40 rose 0.4 percent, while Frankfurt's DAX 30 was flat.
"Yesterday's ECB meeting marked the penultimate risk event of the year," noted Joshua Mahony, analyst at IG trading group, ahead of next week's Fed meeting.
"Markets across Europe are clinging stubbornly on to the gains made throughout the week."
Traders were now looking ahead to next week's meeting of the Federal Reserve.
"The key to the meeting is likely to be how many rate hikes the Fed is forecasting for next year given that markets are currently only pricing in one by November," said analyst Craig Erlam at Oanda.
European equities had risen Thursday and US stocks hit new records after the European Central Bank extended its massive stimulus programme beyond March.
The CAC 40 closed at 4,735.48 points -- the highest level since December 2015. Stocks had rallied this week, also as markets brushed off political uncertainty in eurozone member Italy triggered by the resignation of Prime Minister Matteo Renzi.
The euro edged higher Friday following heavy losses Thursday when the European Central Bank announced an extension to its stimulus package.
The ECB said it would reduce the amount of bonds it buys each month as part of its monetary easing scheme, but added that it would continue the programme to the end of 2017, beyond its planned March expiry.
Bank boss Mario Draghi also signalled that the eurozone's fragile economy could count on its continued support.
- Oil producers -
Focus was also on the oil market as OPEC and non-OPEC crude producing nations meet in Vienna on Saturday to nail down details on implementing a deal to cut output.
"Market sentiment today will be driven by expectations for tomorrow's summit between OPEC and non-OPEC members, with the commitment of the latter pivotal for last week's production cut deal to succeed," Accendo Markets said in a note to clients.
After months of disagreement, OPEC members last month hammered out a deal to cut oil output for the first time in eight years.
Moscow -- which is not a member of the oil cartel -- has said it is ready to reduce crude output by 300,000 barrels a day in the first half of 2017.
In Asia on Friday, Japanese stocks rose as a weaker yen provided further support to exporters.
Hong Kong-listed casino operators plunged after a report said officials had halved the amount that cash gamblers can withdraw from ATMs in the gaming city of Macau, as China tries to choke off a flight of capital from the country.
The move comes as Beijing tries to halt a flood of cash that has sent the yuan tumbling against the dollar with investors shifting to the United States seeking better returns as the Federal Reserve plans to hike interest rates.
It also follows a series of measures aimed at limiting mainlanders shifting their cash to Macau as President Xi Jinping embarks on a drive against corruption.
- Key figures around 1115 GMT -
London - FTSE 100: UP 0.2 percent at 6,945.66 points
Frankfurt - DAX 30: FLAT at 11,176.88
Paris - CAC 40: UP 0.4 percent at 4,756.18
EURO STOXX 50: UP 0.2 percent at 3,191.79
Tokyo - Nikkei 225: UP 1.2 percent at 18,996.37 (close)
Hong Kong - Hang Seng: DOWN 0.4 percent at 22,760.98 (close)
Shanghai - Composite: UP 0.5 percent at 3,232.88 (close)
New York - Dow: UP 0.3 percent at 19,580.59 (close)
Euro/dollar: UP at $1.0617 from $1.0612 Thursday
Dollar/yen: UP at 114.49 yen from 113.95 yen
Pound/dollar: UP at $1.2609 from $1.2586
Oil - West Texas Intermediate: UP 42 cents at $51.26 per barrel
Oil - Brent North Sea: UP 33 cents at $54.22
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