- Eurozone GDP revised down
- ECB policy meeting looms
- US jobs and factory orders out
FTSE 100: 0.20%
CAC 40: -0.02%
FTSE MIB: -0.63%
IBEX 35: -0.28%
Stoxx 600: 0.20%
European stocks were little changed as the Eurozone's gross domestic product (GDP) growth was revised downward ahead of tomorrow's European Central Bank's policy meeting.
Eurozone GDP growth was changed to 0.2% in the final quarter of 2013 from the previous estimate of 0.3%, according to data from Eurostat.
"Today's news complete a mixed picture for ECB policymakers to look at ahead of an interest rate decision tomorrow," said Danae Kyriakopoulou, Economist at the Centre for Economics and Business Research.
The report follows inflation and unemployment data released earlier this week, which the ECB has been watching closely.
The unemployment rate remained at 11.9% in February while inflation fell to 0.5% in March from 0.8% in February, well below the ECB's 2% target.
Most analysts predict the ECB will keep its key interest rate at a record-low 0.25% and hold back on stimulus measures despite pressure to tackle falling prices and high unemployment.
However, ECB Vice President Vitor Constancio said the euro-area will probably avoid outright deflation as economic recovery gradually reduces spare capacity in the economy.
"The prospects for inflation are a cause for concern," Constancio said at a press conference in Athens yesterday. "If indeed the recovery consolidates, it means that the slack in the recovery is reduced, and that will help on that score."
US jobs, factory orders
A report from ADP at 12:15 GMT is expected to show US employers added 195,000 staff in March, compared to 139,000 a month earlier.
Another report due out at 14:00 GMT is forecast to reveal factory orders in the world's biggest economy increased 1.2% in February following a 0.7% fall in January.
"With the Federal Reserve threatening to increase interest rates in the near future, investors will continue to keep a very close eye on data to try and gauge when hikes could happen," said Spreadex trader Lee Mumford.
Neste Oil, Deutsche Post
Neste Oil, a Finnish maker of renewable diesel, edged higher after Chairman of the Senate Finance Committee, Ron Wyden, proposed retroactively extending expired tax credits for biodiesel and renewable diesel until the end of next year.
Deutsche Post gained after Europe's largest mail service predicted operating profit would increase by an average of more than 8% through 2020.
Asos jumped as the UK's largest online-only fashion retailer posted first-half pre-tax profit that exceeded analysts' estimates.
Deutsche Boerse AG fell nearly 3% as the German exchange operator said its Clearstream Banking SA unit is subject to a criminal investigation in the US.
Alcatel-Lucent climbed as Natixis SA raised the network-equipment maker to 'buy' from 'neutral'.
The euro fell 0.02% to $1.3790.
Brent crude future dropped $1.004 to $104.570 per barrel, according to the ICE.