European Factors to Watch-Shares set for subdued start
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LONDON Jan 18 (Reuters) - European shares were set for a subdued start on Monday, with world stock markets under pressure from a big drop in oil prices which stoked further worries about a global economic downturn.
Financial spreadbetters at IG expected Britain's FTSE 100 to open up by 16 points, or 0.3 percent higher. Germany's DAX was seen down by 11 points, or 0.2 percent lower, while France's CAC was seen down by 1 point, or unchanged in percentage terms.
Oil prices hit their lowest level since 2003 on Monday, as investors braced for a jump in Iranian exports after the lifting of sanctions against the country over the weekend.
The U.N. nuclear watchdog on Saturday said Tehran had met its commitments to curtail its nuclear programme, and the United States immediately revoked sanctions that had slashed Iran's oil exports by around 2 million barrels per day (bpd) since its pre-sanctions 2011 peak to little more than 1 million bpd.
The pan-European FTSEurofirst 300 index closed down 2.8 percent last Friday at its lowest level since mid-December 2014.
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