Euro Shares Set to Inch Up ahead of US Jobs Report

European shares were set to tick higher on Friday, reversing a two-day drop, but investors remained cautious ahead of U.S. monthly jobs data expected to give clues on the outlook for the world's biggest economy.

Financial bookmakers, or spread betters, in London expected Britain's FTSE 100 index to open between 12 and 15 points higher, the German DAX unchanged to nine points higher and the French CAC 40 up two to six points.

U.S. nonfarm payrolls data, due at 1:30 pm London time, are expected to show a modest gain of 70,000 jobs in December, after a gain of 94,000 in November.

The pan-European FTSEurofirst 300 index ended 0.2 percent lower on Thursday, at 1,484.8 points, its lowest closing level since Dec. 19, though it ended well above its session low.