US Data Starts at 13:00 GMT

US data starts at 1300 GMT with the building permits revision for December, followed at 1330 GMT by durable goods orders, which are expected to jump 3.0% in December after rising a revised 1.6% in November. Boeing orders surged to 212 in December from 58 in November.

At 1400GMT, US Treasury Deputy Secretary Robert Kimmitt is due to takepart in a panel on the G20 agenda for 2007 at the annual World EconomicForum in Davos.

More US data at 1500GMT, when new home sales are expected to rise very modestly to a 1.05 million annual rate in December after a surprise 3.4% gain in December. Despite the recent improvement, home sales remain below their year-ago pace, while supply remains relatively high.