European stocks headed for biggest weekly rally since Feb

The European stocks opened mixed this Friday, thereafter fluctuated between gains and losses as markets consolidate the post-ECB rally, which was triggered by ECB’s surprising dovish taper’ announcement a day before.

Moreover, a minor-recovery staged by the euro from the ECB-led slump weighed down on the exports-oriented stocks, and hence, undermined the sentiment around the region’s equities.

While investors turn cautious after yesterday’s global equities rally, with  Wall Street stocks at record high levels, and expect a brief correction as head towards the FOMC decision due next week.

However, the European indices remain on track for its best week since February, having reached its highest level in 11 months yesterday.

Meanwhile, Germany's DAX 30 index drops -0.23% to 11,155 levels, while the UK's FTSE 100 index trades marginally higher at 6,941. Among the other indices, the French CAC 40 index gains +0.14% to 4,744 while the pan-European Euro Stoxx 50 index inches -0.14% lower at 3,184 points.