Europe seen lower as Wall St gains trump China data

European stocks are expected to open lower on Friday with global markets focusing on record closes on Wall Street rather than disappointing China data.

The London FTSE index is expected to open 8 points lower at 6,906, the German DAX down 10,723 and the French CAC down 10 points at 4,496, according to CMC Markets.

In the U.S. on Thursday, stocks closed higher with three major indexes closing at new record highs. The gains came amid sharp gains in oil prices and strong quarterly results from retailers.

The strong U.S. close gave Asia a boost on Friday with markets trading mostly higher as traders shrugged off a deluge of economic data from China that missed expectations and instead focused on record finishes in the U.S. and a rebound in oil prices.

Meanwhile, oil prices continue to be watched for signs of recovery. Prices edged up in early trading on Friday, extending gains from the previous session on expectations that major OPEC producers could discuss ways to prop up a market dogged by oversupply.

Earnings are due from Maersk and flash second quarter gross domestic product (GDP) is due from Germany. A second estimate of euro zone GDP is also due.

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