Yes, the sphere will rotate around its own axis and around the circle of the radius l_0 (it would be quite easy to prove that dl/dt = 0). In order to calculate these angular velocities, find the electric field distribution in space from \displaystyle\oint_l\vec E\cdot d\vec l = -\frac{\partial}{\partial t}\int_S\vec B\cdot d\vec S and integrate the force F acting on a sphere
In the same way, just calculate the net torque from the electric field. The homogenous magnetic field doesn’t affect the sphere’s rotation around its own axis but makes it undergo a circular motion (accelerated by E) around the magnetic field’s symmetry axis.