(RTTNews) - The major index futures are pointing towards a lower opening for the European markets on Friday. However, global cues are mixed. U.S. stocks plunged for a second straight day Thursday to multi-year lows on the back of a worse-than-expected weekly jobless claims report and worries that a bailout of automakers will be delayed. The Asian markets have turned mostly higher on Friday after a weak start. Oil prices have fallen below the $50 a barrel mark, hitting levels not seen in more than three years as dour economic reports suggested a painful economic downturn.

On Wall Street Thursday, the major averages all closed sharply lower, with the Dow and the Nasdaq ending the day at their worst closing level since March 2003 and the S&P 500 falling to its lowest closing level since April 1997. The Dow closed down 445.0 points or 5.6% at 7,552.3, the Nasdaq shed 70.3 points or 5.1% to 1,316.1 and the S&P 500 dropped 54.1 points or 6.7% to 752.4.

In the Asia-Pacific region Friday, Hong Kong’s Hang Seng index is surging 4.5%, Japan’s Nikkei 225 index is advancing 1.2%, South Korea’s KOSPI is gaining 3.4%, and Australia’s All Ordinaries index is up 0.7%, while China’s Shanghai Composite index is giving away 4.3%.

At 9:52 p.m. ET, the Brent North Sea crude January futures were quoted at $47.50 a barrel, down 58 cents. In London Thursday, the contract fell $3.64 or 7% to settle at $48.08 a barrel on the ICE Futures exchange.

The economic reports scheduled for release include the preliminary French, German and European Union PMI data for November, French November consumer spending data, and the Italian retail sales details for September. Analysts expect the Euro-Zone manufacturing PMI to fall to 40.5 in November from 41.1 in October, while the services index is likely to slip to 45.0. The composite PMI is forecast to come in at 42.8 in November compared to 43.6 in October. On a monthly basis, Italian retail sales are expected to decline by 0.2% following a 0.5% decline in the prior month. Italian retail sales are projected to fall by 0.7% annually in September after the 1.3% fall reported in August. In the U.S., traders have little economic reports to digest on Friday.

The European markets fell for a second day on Thursday after jobless claims in the U.S. jumped to a 16-year high, raising concern about the health of the world’s largest economy. The FTSEurofirst 300 index of pan-European blue chips closed down 3.8% lower at 781.1 and the narrower DJ Stoxx 50 index also fell 3.8% to 1,956.0. In Europe, the U.K.’s FTSE 100 index shed 3.3% to 3,875.0, France’s CAC 40 index dropped 3.5% to 2,980.4 and Germany’s DAX index fell 3.1% to 4,220.2.

In Asia Friday, the euro recovered slightly from new multi-day lows against its U.S. and Japanese counterparts, while it traded lower against the pound. At about 10:45 p.m. ET, the euro was quoted at 1.2468 against the dollar, 117.58 against the yen and 0.8451 against the pound after the 15-nation currency finished Thursday’s European session at $1.2577, 120.80 yen and 0.8481pound.

In Europe, Aeroports de Paris may move after the owner of Paris’s Charles de Gaulle and Orly airports sold 500 million euros of bonds to fund investments, including a stake in NV Luchthaven Schipol, which operates Amsterdam airport. Ascom Holding is likely to rise after the Swiss company said that its mobile test solutions unit received new orders totaling more than 12 million francs.

GDF Suez may react to a report, citing an interview with Chief Executive Officer Gerard Mestrallet, that the utility may make acquisitions. The report also noted that the CEO repeated an earlier forecast of dividend-per-share growth of 10% to 15% a year on average through 2010. Telefonica may fall after the telephone company got approval from the Spanish government for a plan to cut the workforce of its mobile-phone unit by as many as 500 people.

CTS Eventim may move as the company is scheduled to report earnings. Van de Velde is likely to rise after the company maintained its forecast for a slight increase in second-half sales when excluding the acquisition of Spain’s Andres Sarda. The company also said that the purchase would add to earnings as of the second half of next year.

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