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European Shares Set for Mixed Open, Data Eyed

European shares were set to open little changed on Friday, with investors struggling for direction amid a thin events diary, mixed markets in Asia and modest gains overnight on Wall Street.

Spreadbetters called Britain's FTSE to open down 5 to up 2 points, Germany's DAX down 2 to up 8 points and France's CAC down 2 to 4 points.

Inflation continues to be in focus, with oil prices off record highs but still trading higher on the day at levels above $131 a barrel. Investors fear inflation will end a cycle of equities-friendly rate cuts in the United States and hit consumer spending.

European PMI figures in the early part of the day and U.S. home sales due in the session are the main macroeconomic factors to watch.