U.S. manufacturing reports, to be released later in the day, are expected to show activity in the world's largest economy to have expanded modestly.

Purchasing managers' surveys in the 17-nation euro zone showed economic decline spread further into the core members, suggesting the overall economy may have slipped deeper into recession at the end of 2012.

Markit's Euro zone Manufacturing Purchasing Managers' Index (PMI) edged down to 46.1 in December from November's 46.2, below a flash reading of 46.3. It has been below the 50 mark that divides growth from contraction since August 2011.