European shares seen down as focus on U.S. GDP data

LONDON (BestGrowthStock) – European shares are expected to retreat on Friday, mirroring losses in Asian equities, with investors waiting for a slew of economic releases for hints about the U.S. Federal Reserve’s likely move next week.

Focus will be on U.S. gross domestic data for the third quarter, due at 8:30 a.m. ET. The market will scrutinize the figures for indications about the size of the Fed’s money printing program.

Financial spreadbetters predicted that Britain’s FTSE 100 (.FTSE: ) will open 7 to 9 points lower, or down up to 0.2 percent; Germany’s DAX (.GDAXI: ) to fall 10 to 14 points, or down as much as 0.2 percent; and France’s CAC 40 (.FCHI: ) to slip 11 to 15 points, or down as much as 0.4 percent.

Japan’s Nikkei (.N225: ) fell 2 percent as disappointing earnings hit shares of companies such as Sharp (6753.T: ), with downward momentum accelerating after the index breached a key technical support level.

The pan-European FTSEurofirst 300 (.FTEU3: ) index of top shares closed 0.4 percent higher at 1,085.87 points on Thursday, after falling 0.8 percent to a two-week closing low in the previous session.

(Reporting by Atul Prakash; Editing by David Cowell)

European shares seen down as focus on U.S. GDP data