European markets were mixed Thursday morning on soft quarterly earnings and ahead of the European Central Bank's meeting later in the day.

U.S. futures were also mixed, with Dow Jones mini futures flat and S&P 500 mini futures down 0.03%, after both indices suffered their worst day in seven weeks Wednesday on weaker-than-expected quarterly earnings. Barclays (BCS) - Get Barclays PLC Sponsored ADR Report fell more than 4% in morning trading after it reported a fall in revenue in its markets division. 

London's FTSE 100 was up 0.16%, or 12.28 points, to 7,459.74 after falling more than 1% on Wednesday hitting a three-week low.

Germany's Dax was marked 0.08% lower, or 11 points, to 12,942.07, dragged down by Deutsche Bank (DB) - Get Deutsche Bank AG Report , Bayer (BAYRY) - Get Bayer AG Report and Commerzbank (CRZBY) .

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Deutsche Bank was down 1.58% after it reported a slump in its trading revenues, while Bayer fell 2.71% after it reported a decline in quarterly sales and worse-than-expected performance in its consumer healthcare division.

France's Cac 40 was up 0.1%, or 0.92 points, to 5,375.81, with banks Societe General (SCGLY) and Credit Agricole (CRARY) among the biggest fallers.

The euro was up 0.08% against the greenback to $1.18. The ECB later on Thursday will meet it is expected that ECB president Mario Draghi is expected to unveil plans to scale back the quantitative easing program while rates are expected to be held steady.

Spain's Ibex was down 0.06%, or 4.7 points, to 10,149, ahead of a crucial couple of days for the country. Catalan's parliament is set to meet Thursday to give a response to Madrid's decision to impose direct rule over the region. It is thought that the either Catalan would declare independence or call a snap election.

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