Global stocks mostly higher in anticipation of ECB rate cut

Investors also took heart from higher oil prices and expectations that the European Central Bank will lower interest rates and increase the amount of securities it buys from the market each month.

ANALYST VIEWPOINT: "Expectations in the equity markets are clearly buoyant ahead of the ECB meeting this evening, although the sharp sell-off seen in the wake of the ECB's December meeting is still very fresh in the minds of many investors," IG market analyst Angus Nicholson said in a commentary.

New Zealand's central bank lowered its benchmark interest rate to a record low 2.25 percent Thursday, saying the rate could go lower yet as the country grapples with weak international growth and lower prices for its crucial dairy exports.

[...] some Asian markets fell back after an early burst of buying following the news.