ECB President Mario Draghi faces intense pressure from investors, European leaders and even the United States to deliver on last week's pledge to do whatever it takes to save the euro when the bank meets.

Ahead of Friday's key U.S. July jobs report, July Challenger layoffs will be released at 1130 GMT, and the latest weekly jobless claims are due at 1230 GMT.

Aside from that data, July's ISM New York survey will be released at 1345 GMT, with June factory orders, and June revised durable goods order numbers out at 1400 GMT.

American International Group (AIG.N) is looking to buy back a large chunk of its shares from the U.S. government, whose stake in the bailed-out insurer could subsequently go below 50 percent by this autumn, the Wall Street Journal said, citing people familiar with the company's thinking.

Global agribusiness group Monsanto Co (MON.N) has been awarded $1 billion in damages in a patent infringement trial against DuPont (DD.N) and its agricultural crop subsidiary DuPont Pioneer.

Federal Reserve Chairman Ben Bernanke looks set to spend the rest of the summer waiting for signs that could tip the scales toward providing another round of stimulus for the economy. On Wednesday, the Fed stopped short of resorting to new measures but signaled it was prepared to act unless the economy stages an unlikely comeback in the next six weeks.

European stocks .FTEU3 rose 0.2 percent on Thursday, in thin choppy trade, with investors holding back as the ECB meeting approached.

The Dow Jones industrial average .DJI and the S&P 500 Index .SPX both slipped 0.3 percent on Wednesday, while the Nasdaq Composite .IXIC lost 0.7 percent.

(Reporting by Tricia Wright)

• A Permanent Economic Emergency