European Factors to Watch-Shares seen lower; eyes on Syngenta
(Adds details, updates futures)
MILAN Nov 13 (Reuters) - European shares were seen opening lower on Friday after a commodities sell off dragged Asia lower overnight and as investors fret over the likelihood of a rate hike in the United States next month.
Syngenta is expected to rally at the open after Bloomberg reported that China National Chemical Corp is in talks to buy the world's largest agrichemical company but its initial offer of nearly $42 billion was rejected.
At 0745 GMT, futures for the Euro STOXX 50, France's CAC Germany's DAX, and Britain's FTSE 100 were down 0.4 to 0.6 percent.
Asian shares slumped on Friday after commodity prices plunged to multi-year lows on worries that slower global growth may worsen a supply glut, while U.S. Federal Reserve officials kept beating the drum for a rate hike next month.
Investors will focus on Friday also on third-quarter GDP data for the euro zone as well as on October retail sales and PPI data in the United States.
"If today's U.S. retail sales and PPI data follow the same trajectory as the latest Non Farms did, we could see market race to the bottom," London Capital Group dealer Jonathan Sudaria said.
On Thursday, the pan-European FTSEurofirst 300 index ended down 1.6 percent, posting its biggest daily decline since Sept. 28.