Spain's medium-term bond auction is the major event due on Thursday, headlining a light day for the European economic news. Most of the European markets are closed for the Ascension Day.
Spain's statistical office INE is scheduled to publish final GDP data for the first quarter. The economy contracted 0.3 percent in the first quarter and slipped into a recession, the preliminary estimate showed. Annually, the GDP fell 0.4 percent following a 0.3 percent expansion in the previous quarter.
In the meantime, the Czech Statistical Office is scheduled to release producer prices for April. Economists forecast annual producer price inflation to fall to 2.4 percent from 3 percent in March.
Spain plans to issue bonds maturing in 2015 and 2016. The treasury aims to raise between EUR 1.5 billion and EUR 2.5 billion from the issue. The borrowing costs is expected to rise as the economy is struggling to reduce its huge public deficit and fix banking sector problems.
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