By Sara Sjolin, MarketWatch
LONDON (MarketWatch) -- European stock markets struggled for
direction on Thursday, as investors waited for first-quarter
economic growth data for the euro zone and the final inflation
reading for April.
The Stoxx Europe 600 index was marginally higher at 341.64,
after closing with a 0.1% loss on Wednesday.
Helping send the benchmark higher, London Stock Exchange Group
PLC advanced 3.8% after the company lifted its total dividend
payment by 4.4%, and said that it has identified additional cost
savings in relation to the integration of LCH.Clearnet.
Carphone Warehouse Group PLC climbed 1.5% after the cellphone
retailer announced an all-share merger with Dixons Retail PLC worth
3 billion pounds ($5 billion). Dixons Retail shares dropped
1.6%.
Hennes & Mauritz AB put on 2.5% after the Swedish fashion
retailer said its total sales in April, including VAT, increased by
17% in local currencies compared with the same month last year.
More broadly, European investors focused on the latest economic
reports from the euro zone. Ahead of the opening bell, data showed
the French economy stagnated in the first quarter, missing a
forecasts of a 0.1% rise.
Meanwhile, Germany's gross domestic product improved by 0.8% in
the first three months of the year, marking the most rapid
expansion since the first quarter of 2011. In the fourth quarter of
2013, the German economy grew by 0.4%.
At 10 a.m. London time, or 5 a.m. Eastern Time, the euro-zone
GDP report is out and is expected to show the currency union
expanded by 0.4% in the first quarter. At the same time, the final
reading on April euro-zone inflation is due, forecast to confirm
that consumer prices rose 0.7% last month.
European Central Bank Vice President Vitor Constancio reportedly
said Thursday that the central bank is determined to act "swiftly"
if needed to battle the low inflation levels and didn't rule out
further monetary easing.
France's CAC 40 index was up 0.1% at 4,505.06, while Germany's
DAX 30 index rose 0.1% to 9,763.59. The U.K.'s FTSE 100 index was
marginally higher at 6,880.47.
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