European markets rose throughout the afternoon after U.S. GDP figures showed growth slowed more than expected in the first quarter of the year, effectively pausing the possibility of the Federal Reserve raising rates in June.

Markets had been down for most of the day after the Bank of Japan announced that it would not launch any fresh stimulus. But they recovered after news that U.S. growth slowed to 0.5% year-on-year from 1.4% in the fourth quarter.

In London, the FTSE 100 was closed up, but just barely. It ended the day at 6,322.40, a 0.04% gain.

The market was buoyed by miners. Anglo American was up 8%. The company today announced it had agreed to sell its niobium and phosphates business to China Molybdenum for $1.5 billion. This was part of Anglo's plan to sell off more than half its mines to focus on operations that will turn a profit as commodity prices stumble.

Lloyds Banking Group (LYG) - Get Report , a leading U.K. retail banker, ended the day almost 2% down after it announced profit had fallen in the first quarter. The bank took a hit buying back high-interest bonds.

In Frankfurt, the Dax ended the day 0.21% up to close at 10,321.15.

Deutsche Bank (DB) - Get Report led the market gainers after it announced a surprise first-quarter profit this morning. Germany's biggest bank gained almost 4% throughout the day, but it is still down on the year.

In Paris, the Cac 40 never made it into positive territory, but pared early losses to close 0.04% down at 4,557.36.

Airbus (EADSY) pulled down the market, losing 4.6%. The morning the airplane manufacturer announced a drop in earnings and that said problems with delivery of its military aircraft could hit future profit.

Electrolux (ELUXY) surged 9.4% in Stockholm after it announced a more-than doubling of operating profit in the first three months to 1.27 billion Swedish kronor ($157.5 million) thanks to a dramatic recovery in its North American business. Electrolux last year lost out on the $3.3 billion purchase of GE's (GE) - Get Report appliance unit after the seller walked away amid a government lawsuit to block the deal.