Most European markets opened flat with markets outside Spain trading close to the flatline thereafter, even as data showed that the Eurozone unemployment rate fell for the first time in nearly three years in October.

The Stoxx Europe 600 index opened 0.1% lower to 324.80.

Britain's FTSE 100 and Germany's DAX opened flat.

France's CAC 40 opened 0.1% lower.

Spain's IBEX 35 was trading 0.41% higher after opening higher.

Italy's FTSE MIB was trading 0.01% higher after opening flat.

The Eurozone unemployment rate for October declined to 12.1%, from September's record-high 12.2%. Economists had expected the rate to remain unchanged.

By comparison, the unemployment rate in the 28-member EU remained unchanged at 10.9%.

Meanwhile, inflation in the Eurozone rose to 0.9% in November, according to preliminary estimates by Eurostat. The latest reading is slightly higher than analysts' forecasts, but is well below the European Central Bank's target rate.

In the UK, consumer confidence dropped for the second consecutive month as households continued to worry about their levels of debt. Confidence fell from -12 to -11 in October, surprising analysts who had expected a reading of -10.

In other news, the average UK house price rose again in November amid government and central bank support for the residential mortgage market and an emerging economic recovery. However, prices are still 6% below their pre-financial crisis peak.

Elsewhere, data from Germany showed that retail sales unexpectedly dropped for the second month in a row in October. Retail sales were down 0.8% month-on-month in October.

In company news, Credit Agricole was trading 3.92% higher at 11:41 hrs GMT, after UBS added the firm to its key call list.

Telecom Italia was trading 1.82% higher at 11:40 hrs GMT, after HSBC raised the company to overweight from neutral.

In Asia and the US

The Japanese Nikkei finished 0.41% lower on 29 November. Australia's S&P/ASX finished 0.27% lower while South Korea's Kospi finished 0.04% lower.

Hong Kong's Hang Seng finished 0.39% higher, Mumbai's BSE Sensex finished 1.25% higher, while the Shanghai Composite finished 0.05% higher.

Asian markets witnessed mixed trade amid a lack of cues from Wall Street.

Indian shares finished higher ahead of the release of second-quarter growth data, expected at 12:00 hrs GMT.

Elsewhere, Chinese equities traded higher ahead of the release of ahead of November's manufacturing purchasing managers' index (PMI), due out on 1 December.

South Korean equities ended just below the flatline even after upbeat economic data. Government data showed industrial output rose 1.8% in October, bouncing back from September's sharp decline.

Earlier, Japan's benchmark index ended lower despite positive economic data.

Japanese consumer inflation rose to a five-year high and factory output increased for a second consecutive month in October, suggesting that government and central bank efforts to revive the world's third-largest economy were bearing fruit.

Financial markets in the US were closed on 28 November for the Thanksgiving holiday.