Europe seen mixed on PMI data

European equities are expected to open in mixed territory Thursday as markets digest weaker purchasing manager's index (PMI) data from China and await PMIs from the euro zone.

Overnight in Asia, China's Shanghai Composite index receded nearly 1 percent after a private survey showed the economic giant's manufacturing activity at a one-year low.

HSBC's preliminary reading of China's factory activity for April came in at 49.2, compared with a Reuters forecast for a 49.6 print. Last month, government data showed the official purchasing managers' index (PMI) edged up to 50.1, better than HSBC's final PMI, which came in at 49.6. The 50-point level separates an expansion in activity from a contraction.

Investors in Europe will be keeping an eye on euro zone flash PMI for April due Thursday at 9.00a.m. GMT. German and French data is also due. The index could show whether business confidence and demand is picking up in the single currency region since the European Central Bank launched its 1 trillion euro quantitative easing program in March.

Investors will also be keeping an eye on earnings, with a raft of results due today including from Novozymes, Dassault Systemes, Renault, Pernod Ricard, Severstal, Caixabank, Ericsson, SEB, Novartis and Logitech.

In other news, European Union leaders are meeting to discuss the region's migrant crisis and how to deal with the increasingly desperate attempts to reach European shores by sea.

Elsewhere, Greek Prime Minister Alexis Tsipras will meet German Chancellor Angela Merkel in Brussels on Thursday, a day ahead of a crucial meeting of euro zone finance ministers (the Eurogroup) in Latvia. The two leaders will meet on the sidelines of the EU Summit on migration.