European shares seen sharply lower

European stocks are set to open sharply lower on Friday, tracking weakness in the U.S. markets on disappointing profit outlooks from large companies and as low oil prices sent the energy sector tumbling.
Financial spreadbetters expected Britain's FTSE 100 to open between 54 and 65 points lower, Germany's DAX between 58 and 88 points lower, and the French CAC between 47 and 63 points lower.
European shares closed lower on Thursday, as record rate cuts by the European Central Bank, the Bank of England and Sweden's Riksbank failed to offset a slew of grim economic and company news, flagging risks of a deep recession.
U.S. shares ended lower overnight, with the major stock indexes dropping
between 2.5 and 3.1 percent.
"A late collapse on Wall Street … is likely to set the pace for trade as Friday's session gets underway with profit taking after recent gains and worry over the rising number of layoffs spooking investors," CMC Markets wrote in a note.
U.S. non-farm payrolls data for November is due at 1330 GMT. Economists in a Reuters survey forecast 340,000 jobs were lost in the month compared with a loss of 240,000 jobs in October.
Other data due includes German industrial orders for October, expected to rise by 0.4 percent versus an 8 percent fall in the previous month.
Oil prices are steady around $44, at their lowest in almost four years, which is likely to put pressure on energy stocks. All eyes are turned to the psychologically important $40 level, as a widening economic slowdown gnaws into oil demand.