European shares were expected to open weaker on Thursday after posting their best finish in 2-1/2 years in the previous session as investors looked to fresh U.S. data after the Federal Reserve kept to its pledge to raise rates at a measured pace.
The Fed's bland statement, which was almost identical to the previous, and its well choreographed 25 basis point hike ensured that the dollar and government bonds hardly moved.
Technology shares look set to lead the losers as Amazon fell nearly 14 percent after-hours when quarterly figures missed Wall Street estimates.
Benchmark U.S. oil prices lost ground for the third day in a row to stay at below $47 a barrel as attention turns to oil giant Shell which will post fourth quarter earnings with results also due from Deutsche Bank and BNP Paribas.
Mining shares are also set to stay in the limelight after Australia's WMC Resources rejected a sweetened A$8.4 billion Xstrata rejected a hostile takeover bid by fellow miner Xstrata and invited offers from other suitors, just as Rio Tinto reported bumper profits which were just under forecast.
Here's how the day looks:
MARKET OUTLOOK
* Financial bookmakers in London expect Britain's FTSE 100 to open around 11 points lower, Germany's Xetra DAX to trade 6-14 points weaker and France's to drop 5-9 points.
* European stock markets closed at fresh 2-1/2 year highs on Wednesday.
* Tokyo's Nikkei average ended weaker as banks fell on renwed worries about their bad loans.
* Other Asian stock markets such as Kospi , Hang Seng and the Straits Times index were broadly trading at 7-year highs.
* The dollar rose against the yen but steady against the euro as market attention turned to this weekend's meeting of the Group of Seven and its discussions with Chinese officials.
* Government bond prices were steady after the Fed produced almost identical statement to its previous pronouncement. Benchmark 10-year Treasury yields were flat at 4.147 percent while comparable euro zone yields were holding at 3.561 percent.
* Oil prices fell for the third straight day to stay firmly below $47 a barrel as rising U.S. gasoline supplies countered a surprise drop in crude inventories in the world's largest energy consumer.
* Spot gold prices were flat around $420 an ounce.