- Eurozone GDP to be released
- Eurozone PMI services data out
- ECB meeting nears
- US and Russia meet
FTSE 100: -0.19%
CAC 40: -0.07%
FTSE MIB: 0.45%
IBEX 35: 0.84%
Stoxx 600: 0.07%
European equities were little changed ahead of the release of reports on Eurozone gross domestic product (GDP) and services activity.
The Eurozone economy is expected to have grown by 0.5% year-on-year in the fourth quarter, according to economists ahead of the GDP data from Eurostat.
Another report on Eurozone services purchasing managers' index (PMI) is predicted to come in at a reading of 51.7 in February, in line with the previous month. A reading above 50 signals expansion.
The Eurozone composite, which measures service and manufacturing activity, is tipped to hold at 51.7 in February.
The data comes a day ahead of the European Central Bank's (ECB) meeting. Economists are mixed on whether the ECB will change its policy to tackle high unemployment and low inflation.
ECB President Mario Draghi has indicated that the central bank would consider taking action at its March meeting following the release of more comprehensive data, including economic forecasts.
"While the firmer-than-expected euro area February inflation data reduced the market expectation for ECB action at this meeting, our economists continue to expect them to announce further easing by cutting refi rate by 15bp to 0.10% and the deposit rate by 10bp to -0.10% on the back of growing risk of a very prolonged period of low inflation," according to Barclays.
"While we think this will be a very close call, a combination of refi rate cut and negative deposit rate would likely trigger a knee-jerk EUR selling, in our view."
Later in the session will be a batch of US data including mortgage applications, ISM's non-manufacturing composite, and ADP's employment report. The Federal Reserve will also release its Beige Book.
US Secretary of State John Kerry and Russian Foreign Minister Sergei Lavrov are set to hold talks to try to ease tensions in the Ukraine.
Russia has been accused of deploying troops into the Ukraine's Crimea region, which the US called an "act of aggression". However, Russian President Vladimir Putin denied the claims yesterday, saying they were local self-defence forces to protect bases from "nationalists" and "anti-Semites".
Kerry and Lavrov are expected to meet on the sidelines of a long-planned conference on Lebanon in Paris.
Subsea 7 slumped as the offshore oil-services provider reported fourth quarter net income that missed analysts' estimates.
Bourbon rallied after the marine-services company posted annual earnings that beat forecasts.
Adidas declined after forecasting results this year would be hurt by currency effects.
Tele2 AB gained following reports the Swedish firm is considering a sale of its Norwegian phone business.
The euro fell 0.1% to $1.3741.
Brent crude futures fell $0.312 to $108.960 per barrel, according to data from the ICE.