European shares were set to open little changed on Thursday as Dutch Philips Electronics (PHG.AS: Quote, Profile, Research) posted better-than-expected quarterly earnings but warned that the world economy made it cautious, leaving investors on tenterhooks ahead of Nokia (NOK1V.HE: Quote, Profile, Research) scorecard due later in the morning.
Crude oil futures heading towards $50 a barrel and nerves ahead of next week's Federal Reserve interest-rate policymaking committee and U.S. employment report were also sapping investor enthusiasm, dealers said.
German engineering conglomerate Siemens (SIEGn.DE: Quote, Profile, Research) reported quarterly earnings at the high end of market expectations.