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European Factors--Shares seen halting rally

Published 09/18/2009, 01:20 AM
Updated 09/18/2009, 01:24 AM
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PARIS, Sept 18 (Reuters) - Financial bookmakers expected to see the leading European benchmark indexes falling on Friday, retreating from 11-month highs reached in the previous session, as investors were poised to book some of the recent hefty gains.

Resource-related stocks were poised to feel the pinch of lower commodity prices such as metals and oil.

Spreadbetters are looking for London's FTSE to open down around 21 points, or 0.4 percent, Frankfurt's DAX to lose 25 to 32 points, or as much as 0.6 percent, and Paris' CAC 40 to drop around 26 points, or 0.7 percent in early trade.

European shares rose 0.5 percent on Thursday, climbing for the ninth session in 10, powered by energy and financial stocks, on mounting hopes the global economy was on a recovery path. The FTSEurofirst 300 index of top European shares, up 21 percent so far in 2009, has jumped 57 percent since hitting a record low in early March.

It is up 19 percent this quarter and on track to post the index's strongest quarterly performance in almost a decade, but is still down about 38 percent from a near seven-year high touched in mid-2007.

----------------------MARKET SNAPSHOT AT 0508 GMT----------------------

LAST PERCENT CHG NET CHG

S&P 500 1,065.49 -0.31 % -3.27

NIKKEI 10,373.05 -0.68 % -70.75

MSCI ASIA EX-JP 459.40 -0.06 % -0.26

EUR/USD 1.4721 -0.14 % -0.0020

USD/JPY 91.23 0.22 % 0.2000

10-YR US TSY YLD 3.391 -- 0.01

10-YR BUND YLD 3.342 -- -0.02

SPOT GOLD $1,013.75 0.23 % $2.30

US CRUDE $72.35 -0.17 % -0.12

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Wall St edges down after three-day run higher

Asian shares pull back, dollar gains respite

Nikkei falls 1.2 percent, Aiful news hurts financials

FOREX-Dollar gets respite, off 1-yr low vs euro

Oil falls towards $72, as drop in Asian equities weighs

TREASURIES-Futures inch up in Asia in quiet trade

METALS-Copper leads metals lower as demand woes weigh

Gold inches up, halts retreat from 18-mth high

(Reporting by Blaise Robinson; Editing by Jon Loades-Carter)

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