European Factors to Watch-Germany set to lead European shares down
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LONDON, April 5 (Reuters) - European stocks were set to fall on Tuesday, tracking Asian shares lower, with German stocks set to underperform after German industrial orders unexpectedly dropped.
Futures on the Euro STOXX 50, France's CAC and Britain's FTSE were 0.7-1.2 percent lower.
Futures on Germany's DAX were 1.6 percent lower, underperforming other indexes, after German industrial orders dropped unexpectedly in February due to weaker foreign demand.
In Asia, shares and other riskier assets were pressured by slumping crude oil prices and mixed messages from Federal Reserve policymakers on the outlook for U.S. interest rate rises.
Energy shares could be in focus after oil prices extended losses from the previous two sessions on weakening demand for gasoline and on concerns the global crude glut could persist for some time.
"Oil is likely to remain volatile though as the prospect of a coordinated production freeze becomes increasingly less likely," Craig Erlam, senior market analyst at OANDA, said in a note.
Banks may also be in the limelight. HSBC and Credit Suisse , two of the world's largest wealth managers, dismissed on Tuesday suggestions they were actively using offshore structures to help clients cheat on their taxes. France's Societe Generale also sought to distance itself from a massive data leak exposing possible tax evasion.