(RTTNews) - Omits Reference to Schedule of Bank of Canada Interest Rate Decision Given in 4th para European stocks are seen opening lower on Wednesday, as investors look ahead to a cabinet meeting held by Greek Prime Minister George Papandreou later in the day to announce a new austerity package. On the economic front, consumer morale in the U.K. rose in February to hit its highest level since January 2008, boosted by the economy's exit from recession, the results of a survey showed. The Nationwide Building Society announced on Wednesday that the consumer confidence index rose to 80 in February from a score of 74 in January, beating analyst expectations for a reading of 73. Separately, permanent staff placements in the United Kingdom rose at its fastest pace since June 2007 in February while temporary and contract hiring also increased, a report from the Recruitment and Employment Confederation and KPMG showed on Wednesday. Looking ahead, investors await monetary policy decisions of European Central Bank and the Bank of England, both due on Thursday. Investors also await the ADP National Employment report due later in the day ahead of Friday's U.S non-farm payrolls report, which could be vital in gauging the health of the World's largest economy. Across Asia, stocks extended gains for a fourth straight session as investors hoped for a solution to Greece's financial crisis. Crude oil prices, meanwhile, were little changed amid mixed inventories data from the American Petroleum Institute and the weaker dollar. The Energy Information Administration will release its inventory report later Wednesday. On Wall Street, stocks edged up marginally on Tuesday, adding to Monday's notable gains. While continued merger and acquisition news boosted the markets initially, mixed auto sales and a lack of first-tier economic data wore down the day's gains. The Dow ended almost flat with a positive bias, the Nasdaq rose 0.32% and the S&P 500 ended up 0.23%. In domestic corporate news, drug giant Pfizer is reportedly gearing up to offer about $4.1 billion to acquire German generic-drug maker Ratiopharm GmbH, in a bid to expand its generic drug business. In a filing with the regulator, Kraft Foods Inc. disclosed that its subsidiaries, on March 1, 2010, completed the sale of the assets of frozen pizza products and certain related frozen food products business to Nestle USA, Inc. French construction and telecom giant Bouygues SA expects its sales to fall by 4% this year after a 3% decline in 2009.

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