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LONDON (AFP) – European stocks were mixed on Thursday as concerns over the eurozone debt crisis offset positive US economic data, traders said.

In morning deals, London's FTSE 100 index rose 0.17 percent to 5,666.26 points and Frankfurt's DAX 30 gained 0.10 percent to 6,830.50 points but the Paris CAC 40 fell 0.46 percent to 3,730.26.

Earlier Thursday, Asian markets mostly rose after a strong showing on Wall Street overnight but European markets remained concerned about a massive debt bailout for Ireland after Dublin announced a new 4-year austerity package.

Wall Street is closed Thursday for a public holiday, leaving European investors short of a lead later in the day.

Ireland's austerity measures are designed to smooth the way towards a huge series of loans from the International Monetary Fund and the European Union.

Meanwhile, the head of the European Union's multi-billion-euro bailout fund sought to allay fears the money could run out if the Irish debt crisis spreads to other eurozone nations.

Speaking to Germany's biggest daily Bild, Klaus Regling said: "The safety umbrella would be big enough for everyone" although he also stressed: "The fact is that only Ireland has asked for help."

Dublin's main stock index was down 0.88 percent and Madrid dropped 1.13 percent on Thursday.

Spain's debt risk premium rose to a record high Wednesday as the Irish banking and debt catastrophe deepened concern about the eurozone's weakest economies.

Investors are punishing the country because the Irish crisis reawakens fears about the Spanish property-dependent economy and banking sector.

Spain's economy is far larger. It accounts for 12 percent of economic output among the 16 nations that use the euro currency, equal to twice that of Ireland, Portugal and Greece combined. Some analysts have described it as 'too big to fail' but also 'too big to save.'"

Greece received a huge EU bailout earlier this year, while there are fears that Portugal may also go the same way as Greece and Ireland.

Asian stock markets edged higher on Thursday following strong gains on Wall Street overnight.

US stocks soared on Wednesday as traders set aside global concerns to focus on a slew of local economic data offering a broadly positive picture ahead of the all-important holiday shopping season.

Retailers led the way, as data pointed to increased consumer spending and an improved jobs market as the retail buying season gets into full swing.

US markets were shut Thursday for the Thanksgiving holiday.

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