European markets close flat ahead of tomorrow's US jobs data

Nick Serff, Market Analyst, City Index commented: "Britain's leading share index closed down 6.05 points or 0.11 percent on Thursday as investors consolidated recent gains ahead of tomorrow's US jobs data. Markets in Europe and across the pond experienced some turbulent trading after US pending home sales fell by 7.6 percent for January. Markets initially sold off on the news before rallying into the European close with many investors and market participants deciding to stay on the sidelines before a potentially volatile trading session tomorrow.

Pending Home Sales, a measure of the number of buyers agreeing to purchase a previously occupied home in the US was expected to show a rise of 1 percent. However extreme cold weather and snow storms had American citizens staying indoors instead of going out looking for new homes.

Banking shares lead the way in Europe with RBS posting a near 4 percent gain; Schroders topped the FTSE 100 leader list after posting better than expected results. Mining shares were amongst the worst performers as the price of gold and copper fell back on investor profit taking."