Investing.com - European stocks were little changed on Thursday, after strong German consumer climated data, as persistant concerns over the handling of Greece's debt troubles limited gains.
During European morning trade, the EURO STOXX 50 inched 0.01% higher, France’s CAC 40 added 0.09%, while Germany’s DAX 30 edged up 0.08%.
Data earlier showed that the German Gfk consumer climate index rose to 9.7 from 9.3 in January, slightly ahead of forecasts of 9.6.
European equities had found support after Greece’s package of economic reforms was approved by its euro zone creditors on Tuesday, securing Athens an extension of its bailout for another four months.
The package of measures includes taxation and public spending reforms and consolidating pension funds to reduce costs. Athens also pledged not to unwind state privatization programs and to stick to budget targets.
But investors remained cautious as both the International Monetary Fund and the European Central Bank warned that Greece’s reform plans are not detailed enough and said Athens will need to do more to secure the release of further bailout funds.
Financial stocks were broadly higher, as French lenders BNP Paribas (PARIS:BNPP) and Societe Generale (PARIS:SOGN) gained 0.82% and 0.44%, while Germany's Commerzbank (XETRA:CBKG) and Deutsche Bank (XETRA:DBKGn) rose 0.26% and 0.40%.
Among peripheral lenders, Italy's Intesa Sanpaolo (MILAN:ISP) and Unicredit (MILAN:CRDI) climbed 0.59% and 0.65% respectively, while Spanish banks BBVA (MADRID:BBVA) and Banco Santander (MADRID:SAN) added 0.12% and 0.24%.
Repsol (MADRID:REP) added to gains, with shares up 0.64% after the Spanish energy company said fourth-quarter profit tripled on higher refining margins and increased oil production in Brazil.
Elsewhere, Allianz (XETRA:ALVG) plummeted 2.72% as the German insurer said that fourth-quarter profit unexpectedly fell.
In London, FTSE 100 inched up 0.05% led by Standard Chartered (LONDON:STAN), with shares surging 3.15% after the firm revealed that Bill Winters will replace Peter Sands as its chief executive officer.
U.K. lenders were broadly higher, as HSBC Holdings (LONDON:HSBA) added 0.10% and Lloyds Banking (LONDON:LLOY) climbed 0.50%, while Barclays (LONDON:BARC) gained 0.53%.
The Royal Bank of Scotland (LONDON:RBS) underperformed however, as shares slipped 0.16%. The stock had rallied earlier, after the bank said restructuring would lead to "substantial" job losses. RBS also reported a net loss in 2014.
Mining stocks were also on the upside. Shares in Bhp Billiton (LONDON:BLT) rose 0.30% and Fresnillo (LONDON:FRES) advanced 0.67%, while Glencore Xstrata (LONDON:GLEN) and Rio Tinto (LONDON:RIO) jumped 0.85% and 0.90% respectively.
In the U.S., equity markets pointed to a moderately higher open. The Dow Jones Industrial Average futures pointed to a 0.08% gain, S&P 500 futures signaled a 0.11% rise, while the Nasdaq 100 futures indicated a 0.16% increase.
Later in the day, Germany was also to release official employment figures. The U.S. was to release data on the consumer price index, as well as reports on initial jobless claims and durable goods orders.