European Factors to Watch-Shares seen higher on weaker euro
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MILAN Nov 10 (Reuters) - European shares are seen opening slightly up on Tuesday, shrugging off overnight losses in Asia, as a weaker euro and pound should help boost competitiveness of local companies and make investment in the area more attractive.
Futures for the Euro STOXX 50 Germany's DAX France's CAC and Britain's FTSE were 0.4 to 0.5 percent higher ahead of the cash market open.
Asian shares slipped to one-month lows on Tuesday as the spectre of higher borrowing costs in the United States and slower global economic growth haunted riskier assets.
On Monday, the pan-European FTSEurofirst 300 index fell 1.1 percent led lower by shares in Portugal, where an agreement between leftist parties to work together to form a government unnerved investors.
"The argument that a weaker pound and euro should lend some support to those respective economies, and the fact that a US rate hike should be an indicator of strength for the U.S. economy, still exists and we're set to see traders trying to claw back some of yesterday's losses on the open," said Jonathan Sudaria, dealer at London Capital Group.