PARIS, Nov 26 (Reuters) - European equities were set to fall on Thursday, reversing the previous session's gains and mirroring losses in Asia where Japanese exporters dropped after the dollar hit a 14-year low against the yen.

Financial spreadbetters expected Britain's FTSE 100 to open 10 to 11 points lower, Germany's DAX to open 11 to 15 points lower, and France's CAC-40 to open 14 to 17 points lower.

The Shanghai composite index was down 2.5 percent, with banking stocks extending recent losses.

The dollar tumbled to its lowest level in 14 years against the yen and hit a 1-1/2 year low against the Swiss franc, tripping sell orders as investors sold on the view its broad based weakness has further to go.

The strengthening euro, which touched a 15-month high of $1.5145 against the greenback on Wednesday, has revived worries over European exporters' results.

U.S. markets will remain closed on Thursday for Thanksgiving Day.

European stocks gained 0.5 percent on Wednesday, with pharmaceuticals among the best performers, after a raft of U.S. macro-economic data reassured investors over the pace of the economic recovery.

----------------------MARKET SNAPSHOT AT 0602 GMT----------------------

S&P 500 1,110.63 0.45 % 4.98
NIKKEI 9,383.24 -0.62 % -58.4
MSCI ASIA EX-JP 475.17 -0.68 % -3.24
EUR/USD 1.51 -0.21 % -0.0032
USD/JPY 86.59 -0.87 % -0.7600
10-YR US TSY YLD 3.268 -- 0.00
10-YR BUND YLD 3.240 -- -0.03
SPOT GOLD $1,192.40 0.18 % $2.10
US CRUDE $77.28 -0.87 % -0.68

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Wall St ends higher on jobless claims, home sales

GLOBAL MARKETS-Dlr hits 14-yr low vs yen, gold at new high

Nikkei slips as yen hits 14-yr high on dollar

Dollar hits 14-year low on yen, losses deepen

Gold hits record high above $1,192/oz

Oil above $77 on weak dollar, lower inventory build

Copper hits new 14-mth highs in London, Shanghai

(Reporting by Blaise Robinson; Editing by Mike Nesbit) Keywords: MARKETS EUROPE FACTORS (blaise.robinson@reuters.com ; +33 1 4949 5269, Reuters Messaging: blaise.robinson.reuters.com@reuters.net)

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