European Shares Seen Down, Pernod in Focus


European equities were seen edging lower on Monday, on track to record their third consecutive quarter in the red as investors continue to fret about the health of the U.S. economy as well as the global credit crisis.

Financial bookmakers, or spread betters, in London expected Britain's FTSE 100 index to open between 19 and 21 points lower, the German DAX 24 to 35 points lower, and the French CAC 40 16 to 20 points lower.

But investors could find some hope on the now-quiet mergers and acquisitions front after news that France's Pernod Ricard has won an auction to buy Sweden's Vin & Sprit, the maker of Absolut vodka.

U.S. stocks lost ground on Friday after a profit warning from retailer J.C. Penney fueled worries over consumer spending in the world's biggest economy.

The FTSEurofirst 300 index of top European shares lost 0.5 percent on Friday, closing at 1,265.47 points. The index is on track to record its worst quarterly performance in more than five years.