LONDON, Feb 1 (Reuters) - European shares were set to open mixed on Friday, with Some traders betting on better-than-expected U.S. jobs data, while signs of just a mild recovery in China and some disappointing earnings reminding investors to stay cautious. At 0747 GMT, futures for Euro STOXX 50 were down 0.2 percent, Germany's DAX futures were flat and France's CAC futures were up 0.2 percent. Some surveys suggested Asia's manufacturers faced a challenging business climate in the coming months, with China's vast factory sector managing only a shallow rebound at the start of 2013.. The market's main focus will be on U.S non-farm payrolls data at 1330 GMT. Economists forecast that 160,000 new jobs were created in January, against 155,0000 in the previous month, pointing to modest growth in the economy. The unemployment rate is expected to be steady at 7.8 percent. "Traders will be hoping that today's non-farm payroll figure will be able to rejuvenate bullish spirits by having a similar upside surprise as did this week's ADP jobs figure." Jonathan Sudaria, dealer at Capital Spreads, wrote in a note. The ADP National Employment Report showed on Wednesday U.S. private employers added 192,000 jobs in January, against expectations of 165,000 jobs. Investors are expected to stay cautious following poor results from some firms. Home appliances maker Electrolux reported a smaller-than-expected rise in core operating profit for the fourth quarter, while Spanish lender BBVA's net profit fell 44 percent in 2012. Despite some disappointing numbers from some major companies, the fourth-quarter earnings season have been progressing well. According to Thomson Reuters StarMine data, just 16 percent of companies on the STOXX Europe 600 index have so far reported fourth-quarter earnings, but 64 percent of them have met or beaten forecasts. Among sectors, mining shares could advance, tracking a rise in base metals prices on expectations of an improvement in demand for raw materials. ---------------------------------------------------------------------------- MARKET SNAPSHOT AT 0747 GMT LAST PCT CHG NET CHG S&P 500 1,498.11 -0.26 % -3.85 NIKKEI 11,191.34 0.47 % 52.68 MSCI ASIA EX-JP 555.34 -0.19 % -1.07 EUR/USD 1.3621 0.32 % 0.0043 USD/JPY 92.16 0.48 % 0.4400 10-YR US TSY YLD 2.007 -- 0.02 10-YR BUND YLD 1.694 -- 0.01 SPOT GOLD $1,664.20 0.07 % $1.21 US CRUDE $97.55 0.06 % 0.06 * Asian shares retreat after China PMI, U.S. payrolls eyed * Nikkei rises, heads for longest weekly run since 1959 * S&P 500 posts biggest monthly gain since Oct 2011 * Euro surges 1 pct vs yen, hits highest since April 2010 * LME copper below 4-mth top after China factory data * Gold headed for weekly rise; US jobs data in focus * Brent hits more than 3-mth high * Treasuries-Prices steady in mixed U.S. data COMPANY NEWS BT Strong demand for broadband and tight cost control helped Britain's BT to post a better-than-expected 7 percent rise in third-quarter profit, and to keep its outlook unchanged. ELECTROLUX Home appliances maker Electrolux reported a smaller-than-expected rise in core operating profit for the fourth quarter after being hit by falling European sales and hoped North America and emerging markets would help it this year. BBVA Spanish lender BBVA said on Friday that its net profit fell 44 percent in 2012 after it booked big provisions at the end of the year against soured property assets in its home market. CREDIT AGRICOLE The French bank warned that its fourth quarter results would be battered by 3.8 billion euros ($5.16 billion) in charges as the French bank reels from ill-timed acquisitions from before the 2008 financial crisis. THALES New chief executive Jean-Bernard Levy is set to announce soon a reorganisation of the defence electronics group, daily Les Echos reported citing unnamed sources. EADS Airbus has studied alternatives to lithium-ion batteries for its next jet, the A350, and has time to adapt to any rule changes prompted by the problems that have grounded Boeing Co's 787 Dreamliner, its top executive said. MONTE PASCHI Ratings agency Standard & Poor's cut its long-term credit rating on the scandal-hit bank by one notch to "BB" on Thursday, citing concerns over potential losses from structured finance contracts. LVMH Louis Vuitton, the world's biggest luxury brand in terms of sales, is planning to dampen its expansion worldwide and focus on high-end products to preserve its exclusive image, said Bernard Arnault, chief executive of parent LVMH. AREVA The French nuclear group increased revenue in 2012 thanks to maintenance contracts for its large base of existing reactors, without selling a single new one. SEADRILL Drilling rig operator Seadrill suffered unexpected downtime for its deepwater rigs in the fourth quarter and administrative costs were also above historic norms, it said late on Thursday. PORSCHE Porsche SE and several hedge funds seeking damages from the Stuttgart-based financial holding agreed on Thursday that New York was the wrong place to pursue compensation, and left the door open to bringing a case in German courts. BAYER Germany's Bayer CropScience blasted a European Commission proposal as "draconian" after Brussels said it wants to suspend all use of neonicotinoids products in crops attractive to bees for two years. BMW The owner of offroad motorbike maker KTM acquired rival brand Husqvarna from Germany's BMW on Thursday in a consolidation move that helps shave costs as the industry copes with a slump in Europe. PROSIEBENSAT.1 Bertelsmann is considering a reduction in its stake in Europe's largest broadcasting group, RTL Group, to raise money for an overhaul of its business to catch up with fast changing markets.