European markets pushed higher overnight on the back of some positive economic data.

With US markets closed for Thanksgiving, investors turned their attention to Europe and data that showed Germany's unemployment rate holding steady at 6.9% in November.

Also, confidence among European industrial firms rose for a seventh consecutive month, adding to signs of a recovery in the eurozone economy.

The UK FTSE added five points (+0.1%) to 6654, the German DAX climbed 36 points (+0.4%) to 9387 and the French CAC put on nine points (+0.2%) to 4302.

The closure of US markets overnight meant there was no trading in gold and oil.

The pound was a key mover in currency markets, soaring against the greenback after the Bank of England said it plans to limit support for mortgage lending in the UK.

In economic news, private sector credit data is due out at 11:30am, AEDT.

Morning Market Update: Flat Start is a post from: Australian Stock Report Market Pulse Blog