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European Shares Seen Pausing After Rally

Reuters
Monday, 3 Dec 2007 | 1:24 AM ET

European stocks were seen edging down on Monday, taking a breather after a strong three-session rally, as investors turn cautious ahead of interest rate decisions by both the Bank of England and the European Central Bank as well as key U.S. jobs figures expected later in the week.

Financial bookmakers, or spread betters, in London expected Britain's FTSE 100 index to open between down 2 points to up 1 point, the German DAX
13 to 16 points lower and the French CAC 40 8 to 14 points lower.

The pan-European FTSEurofirst 300 index rose 1.2 percent to 1,526.6 on Friday, as banking shares rallied on rising prospects of cuts in U.S. interest rates.

Hopes of a rate cut by the Federal Reserve at its Dec. 11 policy meeting had helped overshadow renewed concerns about the impact of the credit crisis on banks' results.

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