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Euro Shares Seen Lower After US, Asian Losses

European shares looked set to open lower on Friday, taking their cue from declines in U.S. and Asian stock markets after weak U.S. housing data spurred fresh concerns about the condition of banks' balance sheets.

Financial spreadbetters in London expect Britain's FTSE-100 to open 38 to 49 points lower; Germany's DAX to open 59 to 67 points lower and France's CAC-40 to open 35 to 38 points lower.

Investors will keep a close eye on results from Infineon and its Qimonda unit after the world's largest memory chip maker Samsung Electronics posted a lower-than-expected rise in second-quarter profit.

U.S. durable goods orders and new home sales for June, due at 1:30 pm London time and 3 pm respectively, may also give some impulse.

On Thursday, European stocks fell 1.5 percent as cuts in annual forecasts from Daimler and Renault hit auto stocks and weakening commodities dragged oils and miners lower.