European Shares Seen Lower, Oil Eyed


European shares are seen opening lower on Friday, with energy stocks a particular focus, as U.S. regional data in the previous session and rising U.S. crude and gasoline stockpiles fanned worries about a U.S. recession.

Financial bookmakers expect Germany's DAX will open 40-51 points lower, Britain's FTSE 100 down 18-22 points and France's CAC 40 is seen shedding 37-42 points.

Investors will look to results from Lloyds TSB after a week of generally rocky news from the financial sector, in an otherwise quiet corporate and economic calendar.

On Thursday, some upbeat corporate results helped the FTSEurofirst 300 index close higher but the index pared gains towards the end of the day after U.S. data showed the weakest reading on mid-Atlantic manufacturing since 2001.

Investors will keep a close eye on heavyweight oil shares as crude prices slid from their recent record above $101 a barrel, as rising U.S. oil stockpiles added to evidence of slowing demand in the world's largest consumer.

Euro zone services and manufacturing data and euro zone industrial orders are due later in the session.