GLOBAL MARKETS-Shares hold gains on mixed data, commodities drop

* U.S. stocks flat, undermined by weak energy shares

* Stronger U.S. dollar weighs on commodity prices

* ECB leaves rates unchanged, unveils more exit strategies (Updates U.S. markets)

By Daniel Bases

NEW YORK, March 4 (Reuters) - Weak energy shares undermined some upbeat U.S. economic data, leaving Wall Street stocks flat on Thursday while the European Central Bank's decision to leave interest rates unchanged tugged the euro lower.

The U.S. dollar's rise, combined with rising U.S. crude oil stockpiles, fed the selling of energy-related assets. Commodity prices in general suffered from the greenback's strength.

Shares of Exxon Mobil <XOM.N> fell 0.35 percent while Chevron <CVX.N> lost 0.33 percent, putting a drag on the Dow Jones industrials <.DJI>.

Share prices in Europe managed to hold onto gains before the close. For more see [ID:nLDE6232DH].

Earlier, U.S. retailers posted their strongest monthly sales performance in February since just before the recession started in 2007, as leaner inventories resulted in more sales at full price. [ID:nN04258755]

A drop in U.S. weekly jobless claims added to the early buying. However, the gains for both stocks and the U.S. dollar were capped by an unexpected plunge in contracts for pending sales of previously owned U.S. homes in January. [ID:nN04154147] [ID:nN04232780]

In addition, the ECB unveiled new measures for removing the extraordinary stimulus it provided to the economy, undermining the boost the euro received from the market's strong demand for Greece's 10-year bond sale, seen as a crucial step in addressing its debt problems. [ID:nLDE6231VO] [ID:nFAE005616]

Although the ECB took a small step toward unwinding some extraordinary support for the economy, it left much of its cash buffer for banks in place. [ID:nLDE6230PC] [ID:nLDE6231U3]

"The main take-away is that Mr Trichet's comments so far are consistent with the view that the (ECB) will keep rates at record lows perhaps longer than its U.S. counterpart," said Joe Manimbo, a currency trader at Travelex Global Business Payments in Washington. "That's putting some downward pressure on the euro."

In midday U.S. trade, the euro <EUR=> was down 0.90 percent at $1.3575 from a previous session close of $1.3698, while the dollar was up 0.76 percent at 89.10 yen <JPY=>.

"Pending home sales is a negative for the U.S., though a lot of other factors are positive," said Meg Browne, senior currency strategist at Brown Brothers Harriman in New York. "It is a sign that the housing market is losing some momentum."

At 12:55 p.m. (1755 GMT) the Dow Jones industrial average <.DJI> traded up 17.23 points, or 0.17 percent, at 10,413.99. The Standard & Poor's 500 Index <.SPX> rose 0.70 points, or 0.06 percent, at 1,119.49. The Nasdaq Composite Index <.IXIC> gained 0.42 points, or 0.02 percent, at 2,281.10.

The pan-European FTSEurofirst <.FTEU3> index of leading shares closed up 0.1 percent at 1,036.44, off an earlier six-week high.

U.S. light sweet crude oil <CLc1> fell 49 cents, or 0.61 percent, to $80.38 per barrel, and spot gold prices <XAU=> fell $6.30, or 0.55 percent, to $1,132.80.

DATA

The United States reported a fall in the number of new applications for unemployment benefits last week while productivity was stronger than initially thought in the fourth quarter.

That led to a drop in prices for U.S. Treasuries, only to see those losses pared by the pending homes data.

Benchmark 10-year U.S. Treasuries regained ground, rising 4/32 of a point in price, yielding 3.61 percent <US10YT=RR>. In Europe, Bund futures hit a session high after the housing data surprise. March Bund futures <FGBLH0> settled 21 ticks higher at 124.29, having earlier fallen to 123.87, while the 10-year cash yield <EU10YT=RR> eased 1.2 basis points to 3.128 percent.

The dollar held its gains against a basket of major trading currencies, with the U.S. Dollar Index <.DXY> was up 0.72 percent at 80.551 from a previous session close of 79.977.

Data showed the euro zone economy barely grew in the last three months of 2009 compared with the previous quarter, with the only driver being exports, which benefit from a weak euro.

RATES

After the ECB left its benchmark interest rate unchanged at a record low 1 percent for a 10th consecutive month, the bank's president, Jean-Claude Trichet, said at a news conference, "The latest information has also confirmed that the economic recovery in the euro area is on track, although it is likely to remain uneven."

Earlier, Greece's ability to place a 5 billion euro 10-year syndicated bond was welcome news. It came a day after the government announced draconian measures to help put its finances in order.

Athens needs to borrow 53 billion euros ($72 billion) this year to repay existing debt and cover its huge budget deficit. The cost will be crippling if it has to go on offering such a high premium over benchmark German bonds. (Additional reporting by Natsuko Waki and Ian Chua in London, Lucia Mutikani in Washington and Vivianne Rodrigues in New York; Editing by James Dalgleish)