European Shares Seen Down, Eyes on ECB, Jobs Data

European shares were seen falling on Thursday, retreating for the ninth time in twelve sessions, tracking losses on Wall Street and in Asia overnight as record oil and weak U.S. economic data exacerbated stagflation fears.

Investors also remained cautious ahead of an interest rate decision by the European Central Bank as well as key U.S. monthly jobs data.

Financial bookmakers, or spread betters, in London expected Britain's FTSE 100 index to open between 35 and 42 points lower, the German DAX 30 to 37 points lower, and the French CAC 40 30 to 42 points lower.

"Although the non-farm payrolls will be seen as the most significant reading by many, especially after yesterday bigger than expected decline in the ADP payroll reading, the tone of any interest rate comments from the ECB will also be closely watched too," Paul Webb, chief dealer at CMC Markets, wrote in a note.

The Dow Jones Industrial Average tipped into a bear market after a report showed U.S. private employers cut the most jobs in nearly six years and oil shot to another record, increasing concerns about the health of the economy and corporate profits.