European stocks seen modestly higher ahead of key PMIs, after mixed U.S. data

Euro zone flash PMI readings for August are expected at 9 a.m London time, and should offer investors key insight into the bloc's economic recovery prospects. With the headline composite reading having exceeded expectations to hit an expansionary 54.8 in July, analysts polled by Reuters expect a modest rise to 54.9 in August.

European markets look set to receive a cautiously positive handover from Asia, where investors digested mixed jobs data out of the U.S. The U.S. Labor Department said Thursday that initial weekly jobless claims stateside came in above 1 million, higher than a Dow Jones estimate of 923,000, but continuing claims are in consistent decline.

In Europe, Russian opposition leader Alexei Navalny was hospitalized Thursday due to suspected poisoning, with German media reporting that a plane had been chartered to bring President Vladimir Putin's most prominent critic to Germany for treatment.

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