European stock markets are trading higher on Friday after U.S. President Donald Trump unveiled a phenomenal plan to overhaul business taxes. The markets may also benefit from higher crude oil prices.

Europe's leading Blue-chip index, EURO STOXX 50 gained 4.43 points or 0.14 percent to trade at 3,282.22. UK's benchmark index FTSE 100 went up 39.33 points or 0.54 percent to trade at
7,268.83.

Meanwhile, Germany's benchmark index DAX gained 50.31 points or 0.43 percent to trade at 11,693.17. French benchmark index CAC 40 went up 9.66 points or 0.2 percent to trade at 4,835.90.

On Thursday, European stock markets closed higher. Europe's leading Blue-chip index, EURO STOXX 50 gained 39.75 points or 1.23 percent to settle at 3,277.79. UK's benchmark index FTSE 100 went up 40.68 points or 0.57 percent to close at 7,229.50.