European Stocks Nudge Up

European stocks drifted, with investors reluctant to make any bold moves after Moody's downgraded the sovereign ratings of six euro-zone countries and as doubts about the implementation of Greek austerity measures crept in.

European stock markets nudge higher in choppy trade on Thursday, with investors remaining cautious ahead of the European Central Bank’s policy meeting and a Spanish debt sale later in the day.

European shares look set for a flat open on Friday ahead of Saudi Arabia's "Day of Rage" and the European Union Summit in Brussels.

Stocks opened higher Thursday ahead of testimony from Federal Reserve Chairman Ben Bernanke and as investors braced for a European Union summit.