May 9, 2014 / 5:35 AM / 4 years ago

European Factors to Watch-Shares to mark time; Arcelor, Telefonica in focus

LONDON, May 9 (Reuters) - European stocks were seen edging lower on Friday, pausing for breath after a rally on the previous day, with investors set to focus on results from blue-chips such as and Telefonica and Arcelor Mittal.

Financial spreadbetters expected Britain’s FTSE 100 to open 15 to 17 points lower, or as much as 0.2 percent, Germany’s DAX to open 37 points to 40 points lower, or as much as 0.4 percent, and France’s CAC 40 to open 20 points to 21 points lower, or as much as 0.5 percent.

ArcelorMittal, the world’s largest steelmaker, reported a 23 percent increase in its core earnings and said it remained cautiously optimistic about its business outlook for the remainder of the year.

European indexes rallied on Thursday, with the FTSEurofirst 300 hitting highs not seen in almost six years, after the European Central Bank hinted at possible action to stimulate the economy at its next meeting.

Europe bourses in 2014: (

Asset performance in 2014: ( ------------------------------------------------------------------------------ > Asia shares pare losses as China inflation in line > Wall St ends mostly lower; Nasdaq down for 3rd session > Nikkei rises in choppy trade; Toshiba gains on growth prospects > TREASURIES-Long bond drops after 30-year bond auction > FOREX-Euro steadies after slumping on dovish Draghi comments > Gold steady on Ukraine tensions, poised for 2nd weekly drop > LME nickel at 26-month peak as supply worries bite > Brent steady above $108 as Russia, Libya support

Reporting by Francesco Canepa; Editing by Anand Basu

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