Europe seen lower as global markets wobble

European equities are expected to open lower Thursday following a flat lead from both Asia and the U.S. overnight.

Japanese shares outperformed the region by reaching a new multi-year high but the rest of Asia traded mixed on Thursday, following a flat finish on Wall Street Wednesday amid firming oil prices, housing data and debate over Federal Reserve Chair Janet Yellen's congressional testimony.

Concluding a two-day series of testimonies to various committees within the U.S. Congress, Yellen said there would be no interest rate hike for "at least the next couple of FOMC meetings." She said an eye would be kept on the improving jobs picture and inflation. U.S. weekly jobless claims will be in focus for investors in the day head. 102456567)

In Europe, investors will be watching the latest gross domestic product (GDP) data from Spain and the U.K. German unemployment numbers.

In other news, the European Central Bank (ECB) is willing to again accept Greek bonds for funding if Athens keeps to reform pledges, ECB President Mario Draghi told the European Parliament on Wednesday, Reuters reported.

Elsewhere, the European Commission has given France until 2017 to get its budget deficit below an EU-imposed limit, despite the country missing a second deadline to puts its finances in order, Reuters reported. As well as deciding not to give France a fine for not meeting budget targets, the commission also decided against penalizing Italy and Belgium.

Ukraine will be in focus Thursday after mixed messages from the country's central bank amid currency turmoil. Ukraine's central bank reversed a ban that had prohibited most currency trading late on Wednesday, less than 24 hours after it was introduced. Meanwhile, the International Monetary Fund (IMF) said late Wednesday that it was ready to help the country with its foreign currency issues.