European Shares Set to Dip as Oil, Euro Rise

European equities were seen opening slightly lower on Monday, as investors turn cautious following a dip in the U.S. dollar versus the euro and with oil prices rising.

Financial bookmakers, or spread betters, in London expected Britain's FTSE 100 index to open between 2 and 4 points lower, the German DAX 3 to 6 points lower, and the French CAC 40 6 to 13 points lower.

The dollar hit a six-month high against the euro on Monday then slipped after a rebound in oil prices to near $115 a barrel on supply concerns as the market's focus turned to Tropical storm Fay in the Gulf of Mexico.