European shares were set to start flat to slightly higher on Thursday after a sharp sell-off in the previous session, with results from insurer Allianz in the spotlight, while oil traded at record highs and the dollar inched up.
Germany's biggest insurer Allianz just missed fourth quarter profit estimates, while Swiss Re beat expectations with a 45 percent rise in 2004 net profit.
Retailers such as Marks & Spencer and Next grab focus as British retail sales data, estimated to tick up by 0.2 percent, is due at 0930 GMT. The data will also be keenly watched to get a clue on the outlook for UK interest rates.
Results from U.S. investment banks Goldman Sachs and Morgan Stanley, as well as from Adobe Systems and FedEx Corp will also be eyed.br> * Financial bookmakers in London expect the FTSE 100 , Cac-40 , and DAX indexes to open between 5 and 11 points higher.
* The FTSEurofirst 300 index of leading European shares closed at a near six-week low on Wednesday after oil prices spiked to a new record and a profit warning from General Motors hit car stocks such as DaimlerChrysler.
* U.S. stocks tumbled on Wednesday, with the Dow and the S&P 500 at three-week closing lows, as crude oil futures rocketed and General Motors warned that its 2005 earnings will be as much as 80 percent below its previous forecast.
* U.S. Treasuries edged up in Asia on Thursday, adding to gains in New York trading as a profit warning by General Motors prompted investors to shift funds into government bonds from stocks and corporate bonds.