European Factors to Watch - Shares to extend sell-off


04/06/2012 08:47 AST  Reuters

European shares were expected to open sharply lower on Monday, extending losses from the previous session as disappointing global economic data on Friday sparked a renewed selloff of riskier assets.

Financial spreadbetters expected Germany's DAX to open 94 to 109 points lower, or as much as 1.8 percent, and France's CAC-40 to open 47 to 50 points lower, or as much as 1.7 percent.

The blue chip Euro STOXX 50 index fell 2.4 percent to a seven-month closing low on Friday, while the Dax and the CAC-40 hit five- and six-month troughs respectively, after weak data from the United States, Europe and China cast new doubts on prospects for a global economic recovery.

"That negativity has saturated Asian markets and is expected to weigh on today's European open," Jonathan Sudaria, a dealer at London Capital Group said. Disappointing U.S. payrolls numbers on Friday fuelled speculation that the Federal Reserve will launch further monetary stimulus to shore up growth.

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