A look at the day ahead in European and global markets from

Friday

The prospects for both big fiscal spending and continued

monetary easing in the world's biggest economy make for a

powerful cocktail, emboldening global stocks to end on a high

note after a wild week.

Wall Street goes into Friday at record peaks, helping to

pull MSCI's gauge of global equities to an all-time high with a

3.3% weekly advance.

Even a market you might expect to be languishing under the

weight of Donald Trump's proposed tariffs - China - is doing

nothing of the sort. Chinese blue chips are up close to 6% this

week, with more than half of that coming on Thursday, perhaps on

expectations of a Beijing stimulus bazooka to counter the impact

of any trade war.

But markets have repeatedly been let down in recent weeks

after bubbling up in anticipation of bold Chinese stimulus

measures.

The Standing Committee of China's National People's Congress

wraps up its week-long session in the Beijing evening with a

news conference that could pump up - or pop - expectations.

Stock futures are pointing about 0.2% higher for Britain's

FTSE and Germany's DAX right now, but Europe faces challenges,

not least from the threat of blanket tariffs under Trump.

The FTSE has sagged this week, particularly on Thursday

after the Bank of England signalled the risk of higher

inflation, slowing the likely pace of interest rate cuts.

Germany looks closer to a snap election, after Chancellor

Olaf Scholz's approach to the leader of the opposition

conservatives, Friedrich Merz, was not only rebuffed, but had

Merz calling for an immediate vote of no confidence.

Scholz's awkward three-way coalition fell apart on Wednesday

after he sacked finance minister Christian Lindner of the

fiscally conservative Free Democrats at the culmination of

long-running budget disputes.

Any signs of resolution would be welcomed by investors, who

sent one measure of debt risk to a record level on Thursday.

Key developments that could influence markets on Friday:

- China NPC Standing Committee readout

- Italy, Sweden industrial production (both Sep)

- Greece CPI (Oct)