EUROPEAN stock markets have risen ahead of interest rate decisions due from the ECB and Bank of England and with Japan unveiling more aggressive monetary easing.
Investors are also keeping a close watch over escalating Korean tensions.
In late morning Thursday trade, London's FTSE 100 index of leading companies was down 0.03 per cent at 6,418.11 points, despite improved services sector data raising hopes of Britain avoiding a third recession in five years according to analysts.
Frankfurt's DAX 30 grew 0.40 per cent to 7,906.32 points and in Paris the CAC 40 increased 0.85 per cent to 3,786.51.
France on Thursday placed 10-year bonds on the primary market at a yield of under 2.0 per cent for the first time, according to data released by the country's debt management agency.
"Although the noises out of North Korea have increased by many decibels causing concerns, there are other attractions today staying in the focus of the markets," said Gekko Markets trader Anita Paluch.
"It is all about the central banks today as ECB and BoE are holding their meetings and announcing the rates decisions. As such investors are holding their breath.
"Certainly there are hopes for abundant liquidity since it is the main factor that drives the markets nowadays. It's highly unlikely that we see a change in the interest rate, but the ECB is certainly considering its options, given the Cyprus situation, the fact inflation in the eurozone has eased up, and the region is facing prolonged recession," she added.
A key survey on Thursday showed private sector business activity in the 17-nation eurozone fell sharply in March, adding to an increasingly gloomy outlook for the economy.
The Markit Eurozone Composite Purchasing Managers Index dropped to 46.5 points, unchanged from the initial estimate but well short of February's 47.9 and the boom-bust line of 50 points.
In foreign exchange trade on Thursday, the euro fell to $1.2793 from $1.2845 late in New York on Wednesday. Sterling was weaker against the dollar and euro, while on the London Bullion Market, gold prices climbed to $1,547.47 an ounce from $1,540.29 on Wednesday.
In Britain, which is not a member of the eurozone, the country's services sector recorded an activity reading of 52.4 in March, the Markit/CIPS purchasing managers index (PMI) showed.
Across in Asia, Tokyo shares bounced and the yen tumbled on Thursday after the Bank of Japan's policy action, but other Asian markets slipped, with Seoul hit by growing tensions on the Korean peninsula, analysts said.
The yen sank against the dollar and the euro after the Bank of Japan (BoJ), in its first meeting under a new governor, announced a raft of measures aimed at ending decades of deflation and dragging the economy out of years of insipid growth.
The Nikkei index closed up 2.20 per cent to 12,634.45 points. The Nikkei index had slumped as much as 2.3 per cent in the morning, with dealers concerned new BoJ governor Haruhiko Kuroda would fall short on promises to boost the economy.
Seoul ended down 1.20 per cent after North Korea blocked access to its Kaesong joint industrial zone with South Korea for the second day running. There were also reports Pyongyang has moved a medium-range missile to its east coast.
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