Fed Hike Fails to Spook Europe as Oil Prices Ease Inflation Worries

European equity markets are poised for a higher open on Thursday following the US Federal Reserve's interest rate hike. The Fed signaled further tightening may be needed to combat inflation, but this move was widely anticipated by investors.

The lower oil prices, which eased concerns over inflation, also provided support to stocks. According to reports, Saudi Arabia aims to restore around half of its East-West pipeline capacity within days and return the system to full operation within six weeks.

Investors are awaiting the Bank of England's policy decision, with rates expected to remain unchanged. However, policymakers may signal a potential move later this year amid rising energy costs.