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European Stocks Mixed as Eurozone Sees Off Deflation

European stocks were mixed on Thursday following data showing that the euro area saw off deflation in March. U.K. retailer Mothercare and German e-commerce incubator Rocket Internet (RCKZF) were among the notable decliners.

In London by late morning the FTSE was down 0.11% at 6,355.69, while the CAC 40 slid 0.20% to 4,481.40 in Paris and the DAX inched up 0.14% to 10,040.20 in Frankfurt.

S&P 500 futures were 0.17% lower at $2,072.50.

European markets struggled for direction after the EU's Eurostat statistics office said euro-area consumer prices were unchanged in March, compared with an earlier reading of minus 0.1% and a deflation rate of 0.2% in February. Negative annual inflation rates were recorded in 15 of the EU's 28 member states, however, with Romania, Cyprus and Bulgaria posting the biggest price declines.

Later in the European afternoon, investors will have their eye on reports from the U.S. on the March Consumer Price Index and weekly jobless claims. Both reports are due out at 8.30 a.m. EDT.

Meanwhile in London, Mothercare slumped more than 17%. The Watford, England-based purveyor of maternity wear and baby fashions and furniture posted a drop in international sales, which were down 9.7% in the...