(RTTNews) - The major European index futures are pointing towards a lower opening for the markets on Friday. Global cues are mixed, as U.S. stocks finished mixed on Friday and the Asian markets are showing a mixed trend on Monday. Crude oil prices for February delivery rose in Asian trade Monday amid speculation that oil prices will stabilize following OPEC’s production cuts next month and the economic stimulus plans announced by the U.S.

Wall Street finished mixed on Friday as the strong upward move seen in early trading on the back of a government bailout of the auto industry lost steam over the course of the day following a steep fall in oil prices. The Dow closed down 25.9 points or 0.3% at 8,579.1, while the Nasdaq rose 12.0 points or 0.8% to 1,564.3 and the S&P 500 advanced 2.6 points or 0.3% to 887.9.

In the Asia-Pacific region Monday, Hong Kong’s Hang Seng index is down 1.7%, Australia’s All Ordinaries index is losing 0.6%, China’s Shanghai Composite index is falling 1.8% and South Korea’s KOSPI is giving away 0.7%, while Japan’s Nikkei 225 index is advancing 1.1%.

The Brent crude February futures were up 30 cents at $44.30 a barrel at 10:53 p.m. ET after rising 64 cents to settle at $44.00 a barrel on Friday in London.

The economic reports scheduled for release in Europe are the German import prices index, the German GfK consumer confidence index, the French producer prices index, and the Italian trade balance for November. In the U.S., there are no economic reports scheduled for release on Monday.

The European markets fell for the third day on Friday, as energy and mining stocks lost ground following a sharp slide in crude oil and metals prices. The FTSEurofirst 300 index of pan-European blue chips closed down 0.45% at 823.37 and the narrower DJ Stoxx 50 index fell 0.28% to 2,052.98. In Europe, the U.K.’s FTSE 100 index dropped 1.01% to 4,286.93, France’s CAC 40 index fell 0.26% to 3,225.90 and Germany’s DAX index shed 1.26% to 4,696.70.

In early Asian deals Monday, the euro strengthened against the greenback, the British pound and the Japanese yen. The euro hit highs of 1.4048 against the dollar, 0.9386 against the pound and 126.17 against the yen. The 15-nation currency finished Friday’s European session at $1.3848, 0.9314 pound and 124.09 yen.

Areva is likely to decline after the company said that its operating income would be lower this year than a year ago as it made a provision for a plant building in Finland and suspended uranium trading because of declining prices. Deutsche Telekom may rise following a report that the German phone company might hire more than 3,000 new employees next year.

Electricite de France may react to a report that the power producer could be forced to sell three British coal-fired power stations if European Union regulators approve its GBP12.4 billion takeover of British Energy Group. France Telecom is likely to see some action after a report indicated that the company has no plans to buy Spanish cable operator Grupo Corporativo Ono SA or mobile company Yoigo.

Renault may fall, as the carmaker is likely to cut 1,000 engineering subcontractors from its Technocentre research and development site according to reports. Suez Environnement is likely to rise after the water company won a 20-year contract worth EUR 220 million to build and run a waste-water treatment station near Cannes in the south of France.

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