European stocks rose on the back of strong earnings and as a decision from the European Central Bank to cut interest rates came as expected.

The euro could fall if European Central Bank President Christine Lagarde prompts markets to price in lower interest rates, ING’s Chris Turner says in a note. The ECB is expected to cut the deposit rate by 25 basis points to 2.

The European Central Bank cut interest rates on Thursday and kept the door open to further policy easing as concerns over lacklustre economic growth supersede worries about persistent inflation. It was the fifth ECB rate cut since June and markets expect two or three more this year,

The European Central Bank made a fresh interest rate cut Thursday as inflation eases and the eurozone economy flatlines, with a nervous eye on US President Donald Trump's protectionist agenda.