(MENAFN- AFP) European stocks were little changed on Friday, shrugging off the impact of plunging Chinese equities, as investors eyed encouraging data and European Central Bank stimulus hopes.
At around 1230 GMT, Frankfurt's DAX 30 index was virtually unchanged from Thursday's closing level and the Paris CAC 40 added 0.1 percent.
London's FTSE 100 slid a slight 0.2 percent as Chinese news inched the commodity-heavy index into negative territory. China is a leading consumer of many raw materials.
"The reaction to the Chinese sell-off... in European stock markets has been limited," noted CMC Markets analyst Jasper Lawler.
In the eurozone, an index of executive and consumer confidence stood at 106.1 in November, the European Commission said, while October's reading was revised to the same level.
The figures are the strongest since May 2011 and stoked hopes of encouraging fourth-quarter economic growth in the euro area -- but failed to dispel speculation of more stimulus from the European Central Bank (ECB) next week, dealers said.
Economists polled by Bloomberg News had predicted the key gauge would stay unchanged at 105.9 in November.
"The ECB will be pleased to see business and consumer confidence stable at a four-and-a-half year high in November, and it will be particularly relieved to see some pick-up in consumers' inflation expectations," said IHS Global Insight economist Howard Archer.
"However, inflation expectations remain very low compared to low norms and companies' pricing expectations are missed.
"Consequently, the survey overall is unlikely to dilute high expectations that the ECB will deliver further stimulative measures at its 3 December policy meeting."
In foreign exchange activity, the euro remained under pressure over stimulus speculation.
The shared eurozone unit slid to $1.0576 on Friday having briefly rebounded mid-week after hitting a seven-month low at $1.0566.
One week ago, ECB chief Mario Draghi declared that the bank will "do what we must" to lift inflation as quickly as possible, remarks that have been interpreted as arguments for additional stimulus at the next policy meeting.
- China rocks Asian markets -
Back in Asia on Friday, equities mostly fell as Chinese authorities launched a probe into several brokerages, while profits at the country's industrial giants sank by far more than expected.
With Shanghai slumping more than six percent at one point, the sharp losses brought back painful memories of the panic-driven sell-off that struck China's equities markets in the summer, wiping trillions of dollars off valuations.
Stocks sank Friday after Beijing said industrial profits fell more than forecast in October.
Meanwhile, the country's biggest brokerage Citic Securities said Thursday it was being probed for suspected "rule violations" as officials crack down on financial firms in the wake of the summer sell-off.
And on Friday another giant, Guosen Securities, said it was being probed, while second-ranked Haitong Securities halted trading of its shares in Shanghai and Hong Kong.
Shanghai's stock market ended the day 5.5 percent lower.
The sell-off reverberated around Asia, with Hong Kong ending down 1.9 percent, while Sydney lost 0.2 percent and Seoul shed 0.1 percent.
Tokyo dropped 0.3 percent after the government said prices fell last month, while consumer spending also slid.
Wall Street was shut on Thursday for the Thanksgiving holiday.
- Key figures around 1230 GMT -
London - FTSE 100: DOWN 0.2 percent at 6,376 points
Frankfurt - DAX 30: UP 0.01 percent at 11,321
Paris - CAC 40: UP 0.1 percent at 4,953
EURO STOXX 50: UP 0.04 percent at 3,294
Tokyo - Nikkei 225: DOWN 0.3 percent at 19,883.94 (close Friday)
Euro/dollar: DOWN to $1.0585 from $1.0607 in late US trade on Thursday
Dollar/yen: DOWN to 122.60 yen from 122.63 yen Thursday
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