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European stocks are set to fall in early trade on Wednesday as investors, rattled by a dismal 2008, book gains after a six-session winning streak ahead of key U.S. jobs data due later in the week.
Financial spreadbetters expect Britain's FTSE 100 to open 16 points lower, Germany's DAX to open unchanged to 6 points lower and France's CAC-40 to open 11 to 19 points lower.
In the latest evidence of a deep economic downturn, Alcoa said on Tuesday it will slash more than 15,000 jobs, halve capital spending and sell four businesses as it reduces aluminium production.
European stocks climbed on Tuesday for the sixth straight session and ended at their highest closing level since Nov 10, as rallying metal prices and hopes of big infrastructure spending boosted mining and steel shares.
The FTSEurofirst 300 has gained 10.7 percent over the past six sessions, its longest winning streak since late October.
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Data is a real-time snapshot *Data is delayed at least 15 minutes