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(AFX UK Focus)
2009-11-27 06:30
Glance-Europe Factors-Shares set to extend sell-off on Dubai woes |
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PARIS, Nov 27 (Reuters) - Financial bookmakers expect the leading European benchmark indexes to fall on Friday, extending the previous session's sharp sell-off on mounting fears over Dubai's debt problems. Financial spreadbetters expected Britain's FTSE 100 to open 3 to 35 points lower, or as much as 0.7 percent, Germany's DAX to open 12 to 33 points lower, or as much as 0.6 percent, and France's CAC-40 to open 9 to 42 points lower, or as much as 1.1 percent. Asian shares sank on Friday, with Japan's Nikkei dropping more than 3 percent, as the Dubai shockwaves hit the region, with banking stocks taking a beating and the yen rising to a fresh 14-year high against the dollar as investors unwound risky trades. European heavyweight energy and mining shares will feel the pinch of falling commodity prices. Crude oil prices extended their decline from the previous day to fall to $76 a barrel on Friday and metal prices also dropped. European shares tumbled 3.3 percent on Thursday to record their biggest one-day percentage drop in seven months, as banking shares plummeted on concerns over their exposure to Dubai. U.S. markets, closed on Thursday for Thanksgiving Day, were poised to track European and Asian losses on Friday. At 0605 GMT, futures for the S&P 500 were down 2.97 percent, Dow Jones futures were down 2.3 percent and Nasdaq 100 futures were down 3.14 percent.
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----------------------------------------------------------------------- TOPWRAP-Dubai debt delays revive fear of financial crisis GLOBAL MARKETS-Asia shares skid as Dubai debt worries spread Nikkei falls over 3 pct as yen, Dubai concerns weigh FOREX-Yen surges as Dubai woes put investors off risk Oil falls to $76 amid Dubai debt jitters TREASURIES-Advance in Asia as risk shed on Dubai woes Gold falls, downside limited on dlr's weak outlook Shanghai copper falls on Dubai woes, dollar (Reporting by Blaise Robinson; editing by John Stonestreet) Keywords: MARKETS EUROPE FACTORS (blaise.robinson@reuters.com ; +33 1 4949 5269, Reuters Messaging: blaise.robinson.reuters.com@reuters.net)
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