European Factors -- Shares set for flat open

LONDON, Dec 2 (Reuters) - European shares were set for a flat open on
Wednesday, following strong gains in the previous session as worries about
Dubai's debt problems receded.

Financial spreadbetters expected Britain's FTSE 100 .FTSE to open 5 to 8
points lower, or down as much as 0.2 percent, Germany's DAX .GDAXI to open
between 1 point lower and 3 points higher, or up as much as 0.1 percent, and
France's CAC .FCHI to open 2 to 6 points higher, or up as much as 0.2 percent.
On Tuesday, the FTSEurofirst 300 .FTEU3 index of leading European shares
rose 2.6 percent to close at 1,011.06 points, the biggest one-day percentage
gain since July 15.

The European benchmark is up more than 56 percent from its lifetime low of
March 9, as investors have become more confident on the prospects for economic
recovery.

The Dow Jones industrial average climbed to its highest close in 14 months
on Tuesday as a weak dollar boosted natural resource companies' shares and
economic data reinforced hopes for a sustainable recovery.

Sentiment also got a lift as concerns receded about the impact of Dubai's
debt trouble after news that Dubai World planned to restructure about $26
billion in debt.

In a relatively light day for scheduled economic and corporate news,
investors' attention will turn to the ADP Employment data in the United States,
which will give an indication of the strength of the labour market, ahead of
Friday's November non-farm payrolls data. This is due at 1315 GMT.

-----------------------MARKET SNAPSHOT AT 0553 GMT----------------------

LAST PCT CHG NET CHG
S&P 500 .SPX 1,108.86 1.21 % 13.23
NIKKEI .N225 9,617.46 0.47 % 45.26
MSCI ASIA EX-JP .MIASJ0000PUS 478.07 1.24 % 5.84
EUR/USD EUR= 1.5091 0.05 % 0.0007
USD/JPY JPY= 86.96 0.25 % 0.2200
10-YR US TSY YLD US10YT=RR 3.277 -- -0.01
10-YR BUND YLD EU10YT=RR 3.165 -- 0.01
SPOT GOLD XAU= $1,213.85 1.49 % $17.85
US CRUDE CLc1 $78.53 0.20 % 0.16
----------------------------------------------------------------------

* US STOCKS-Dow hits 14-month high on data [ID:nN01517685]

* GLOBAL MARKETS-Gold sets new record [ID:nHKG179383]

* Nikkei inches to 2-wk closing high, metals shares [ID:nTKW006678]

* TREASURIES-Drift in Asia, labour data eyed [ID:nT127633]

* FOREX-Dollar holds ground; yen soft as stocks up [ID:nT130651]

* Oil eases to around $78, awaits EIA data [ID:nSP426870]

* Gold futures hit record above $1,210/oz [ID:nTKU105719]

* METALS-Shanghai copper up, LME steady; new highs eyed [ID:nSP402091

(Reporting by Brian Gorman)

((brian.gorman@thomsonreuters.com; +44 20 7542 9128; Reuters Messaging:
brian.gorman.thomsonreuters.com@reuters.net))