European shares were called lower on Friday tracking Asian markets overnight after corporate earnings in the U.S. proved a mixed bag and investors waited for euro zone finance ministers to approve an agreement to lend up to 100 billion euros ($122.5 billion) to Spain so it can recapitalize its banks.
The FTSE was expected to open 10 points lower at 5704, the DAX was seen opening lower by 9 points at 6749 and the CAC 40 was called to open down 6 points at 3258.
Asian shares gave back some gains from the previous session but were still poised for their biggest weekly gain since January as mostly positive earnings new from the U.S. helped buoy investment sentiment.
The S&P 500 hit a 2-1/2 month high on Thursday, although a firm yen kept Japanese shares on the back foot and further tensions in the Middle East at one point pushed oil prices to an eight week high overnight over supply concerns, before they later eased.
Ministers are expected to sign off on a lengthy memorandum of understanding with Spain spelling out the terms of the aid, which will be fully distributed by the end of 2013.
German chancellor Angela Merkel easily won parliamentary approval for Germany's country’s contribution to the Spanish rescue package on Thursday despite growing unease in her center-right coalition about the rising cost of Europe's debt crisis for German taxpayers.Page 1 of 2 | Next Page