European Shares Set to Open Broadly Flat, Data Eyed


European shares were seen broadly unchanged on Tuesday as UK and U.S. market players return to business after a long weekend and as Asian markets rebounded from the previous day's dip.

The oil price stayed above $133 a barrel and continued to fan concerns about rising inflation and its impact on the broader economy.

Financial spreadbetters in London expect Britain's FTSE 100 to open 15 to 20 points higher; Germany's DAX to open up 1 to 6 points and France's CAC-40 to open 5 to 10 points higher.

Investors await reports on sentiment indicators for Germany, France and Italy while also keeping an eye on the U.S. housing sector and the Conference Board's index of consumer sentiment due later in the day for clues about the health of the world's biggest economy.

European shares were dented on Monday after Swiss bank UBS said it  may suffer additional losses from its exposure to U.S. residential mortgages.

The FTSEurofirst 300 index of top European shares dipped 0.2 percent.