European Shares Set to Fall on US Economic Woes

European equities were poised to drop on Monday, for the seventh time in nine sessions, as investors continue to fret about the prospect of a U.S. recession.

Financial bookmakers, or spread betters, in London expected Britain's FTSE 100 index to open between 22 and 27 points lower, the German DAX 18 to 24 points lower and the French CAC 40 17 to 23 points lower.

The pan-European FTSEurofirst 300 index lost 0.55 percent on Friday, closing at 1,428.89 points after briefly touching its lowest level since December 2006, led by weaker food and beverage stocks on concerns over consumer spending.

Japanese markets were closed on Monday for a public holiday.