European Factors to Watch-European shares set for mixed open as oil swings
LONDON Jan 15 (Reuters) - European stocks were seen opening mixed on Friday, as investors digested the latest swings in the oil price which sent U.S. and Asian shares in opposite directions.
U.S. crude oil futures fell in Asian trade on Friday, heading lower after posting the first significant gains for 2016 in the previous session.
Those gains had supported the U.S. S&P 500 to its best day since December. However, the subsequent fall in oil took the wind out of Asian stock markets, which hit a 3-1/2 year low.
European shares were likely to stabilise after hitting a 13 month low in the previous session, with the pan-European FTSEurofirst 300 index ending down 1.5 percent at 1,334.36 points.
Financial spreadbetters expected Britain's FTSE 100 to open 14 points higher to 10 points lower, Germany's DAX to open 21 points higher to 20 points lower, and France's CAC 40 to open 17 points higher to 3 points lower.
The bleak outlook for oil and gas prices prompted global miner BHP Billiton to write down the value its U.S. shale assets by $7.2 billion on Friday, cementing expectations it will be forced to cut its dividend for the first time in over 25 years.