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European Shares Set to Recoup Some Losses

European shares were expected to open higher on Monday, stabilizing after a sharp fall on U.S. recession worries at the end of last week, as oil stayed above $95 and safe haven gold continued its climb.

Bookmakers expected Britain's FTSE 100 to open up 24 to 26 points, Germany's DAX up 43 to 53 points and France's CAC up 31 to 37 points, making for gains of 0.4 to 0.8 percent.

With the corporate diary thin and U.S. markets closed for Presidents Day, investors are likely to struggle for direction in a bear market. The FTSEurofirst 300 index is still down 20 percent from a multi-year peak hit last July despite a mini-rally following U.S. rate cuts in January.