European indexes seen down 2.7-3.6 pct -bookmakers

Thu Nov 6, 2008 12:49am EST
 
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LONDON, Nov 6 (Reuters) - European shares are set to open sharply lower on Thursday, financial bookmakers said, tracking weakness in the U.S. and Asian markets on worries of a deep recession amid more evidence that the U.S. economy is shrinking.

Financial bookmakers expected Britain's FTSE 100 .FTSE to open down 115 to 124 points, or as much as 2.7 percent, Germany's DAX .GDAXI to open 158 to 171 points lower, or as much as 3.3 percent, and France's CAC-40 .FCHI to be 110 to 131 points weaker in the open, or as much as 3.6 percent.

Investors will await the interest rate verdicts from the European Central Bank and the Bank of England later in the day. Both central banks are widely expected to cut rates.

The FTSEurofirst 300 .FTEU3 of leading European shares snapped a six-session winning streak on Wednesday, down 2.2 percent. (Reporting by Dominic Lau; Editing by Kazunori Takada)

 
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