LONDON: European and US shares were mostly firmer on Thursday after a yo-yo session as investors fretted about a stronger euro and braced for US labour data.
Among the eurozone's main exchanges, Germany's DAX index stood out from the pack, failing to maintain gains earlier in the session to close 0.44 percent lower.
However, shares in Paris and London were both higher. The CAC edged 0.04 percent higher, while the FTSE was up 1.06 percent.
In keeping with recent volatility, European markets had rebounded in earlier trading comforted by a rise in oil prices after tumbling on Wednesday, then dipped, before finally reversing again.
Analysts saw a mixed bag of factors clouding sentiment.
"The European markets find themselves trapped -- one day, it's oil, which brings them lower, the next day it's the banks, the day after it's the euro," analysts at Aurel BGC noted.
Analyst Andrea Tueni, of Saxo Banque, said shares in companies that export were feeling the strain of a stronger euro that makes goods more expensive abroad.
"Exporters' values are suffering today and are pulling lower, notably because of the clear strengthening of the euro" since Wednesday, Tueni said.
Investors had divergent company earnings reports to digest, as well as the Bank of England's latest reading on the economic outlook.
As widely expected, the Bank of England left interest rates at a record-low -- 0.5 percent -- as policymakers worried about slumping oil prices and the darkening global outlook.
However the central bank cut its economic growth forecast to 2.2 percent this year from its previous 2.5-percent prediction.
Swiss banking giant Credit Suisse posted a net loss of nearly $3.0 billion for 2015, sending shares diving.
German auto giant Daimler offered brighter news, achieving new record levels of sales and earnings in 2015, but its shares dived as investors were disappointed at the automaker's 2016 outlook statement.
And Royal Dutch Shell on Thursday announced an 87-percent plunge in annual net profits on slumping oil prices that have shed about three-quarters of their value in around 18 months.
The crash in oil prices has been felt sector wide, with Norwegian oil giant Statoil on Thursday saying it was slashing investments and stepping up a cost-cutting programme after recording a huge annual loss of its own for 2015.
Earlier, Asian stock markets had mostly rallied Thursday, while shares on Wall Street were little changed early on in the session following lacklustre US economic data and a modest rise in oil prices.
About 40 minutes into trade, the Dow Jones Industrial Average was up 0.08 percent.
The Labor Department reported that new US jobless claims, a sign of the pace of layoffs, edged higher in the week ending January 30.
US productivity also dropped three percent in the fourth quarter of 2015.
Federal Reserve Vice Chair Stanley Fischer earlier this week said the global turmoil had the potential to trip up the US economy and the central bank was closely watching events as it considered monetary policy.
The comments added to speculation the Fed is becoming hesitant to lift rates, following its first hike for more than nine years in December.
Increasing expectations the Fed will stay put on rates for the rest of the year sent the dollar tumbling Wednesday, in turn sending oil prices rallying and providing a fillip to stocks.
A weaker greenback makes oil cheaper for buyers using stronger currencies, which tends to stimulate demand.
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