RTRS: European shares slip ahead of U.S. GDP and Fed
(Reuters) - European shares fell slightly early on Friday with miners weaker on lower metals prices and traders cautious ahead of third-quarter U.S. GDP data, and the Federal Reserve's statement on quantitative easing next week.
At 3:06 a.m. ET, the FTSEurofirst 300 .FTEU3 index of top European shares was down 0.2 percent at 1,083.67 points, after rising 0.4 percent in the previous session.
Metals prices fell, as the dollar strengthened. Miners to fall included BHP Billiton (BLT.L), Rio Tinto (RIO.L) and Xstrata (XTA.L), down between 0.6 and 1.2 percent.
Later in the session, investors' focus will turn to third-quarter U.S. GDP data, for an indication of the strength of the recovery in the world's biggest economy, a factor the Fed will take into account in making a decision next week on further fiscal stimulus.
"There is uncertainty ahead of the Fed statement for sure," said Bernard McAlinden, investment strategist at NCB Stockbrokers in Dublin.
"There's a feeling the market maybe has over-priced in QE. You've had half-decent data in the United States. I think the Fed will announce QE. It's a question of how much and the nature of what they do."
