European markets are expected to begin Friday's session on a positive note, as investors delve through another batch of earnings while keeping a close eye on the political sphere.

The FTSE 100 is seen rising 5 points at 7,427, the CAC is expected to open 12 points higher at 5,466, while the DAX is poised to start the day up 57 points at 12,558, according to IG.

During the course of the day, Airbus, Continental, Daimler, Luxottica, BBVA, Electrolux, Royal Bank of Scotland and Merlin Entertainments are some of the major names set to publish fresh corporate updates.

A new batch of economic data are due out on Friday, including gross domestic product (GDP) out of Spain, unemployment figures from Germany and business confidence out of the euro zone.

The Central Bank of Russia is scheduled to hold its board of directors' monetary policy meeting on Friday.

Meanwhile, investors are likely to still be mulling over the European Central Bank's (ECB) latest meeting of the Governing Council, which took place on Thursday. At its April meeting, the ECB maintained its current stance on interest rates, as widely expected by markets and chose to reaffirm its ultra-easy monetary stimulus.

Elsewhere, the Bank of Japan too decided to hold fire on changing its monetary policy on Friday.