* European shares move lower, set for weekly losses
* Euro up at $1.2962, dollar index flat
* Brent crude holds above $115, copper eases 0.5 pct
By Marc Jones
LONDON, Oct 12 (Reuters) - European shares dipped and the
euro steadied on Friday, with both on course to end the week
down as worries about the euro zone's crisis strategy, the
upcoming U.S. election and slowing global economic growth limit
the appeal of riskier assets.
Having enjoyed a 1.2 percent gain on Thursday, the Euro
STOXX 50 index of top European blue-chips dropped 0.3
percent to 2478.57 points when trading resumed. It is course to
end the week roughly 1.4 percent lower.
"With concerns over the state of the global economy coming
to the fore this week, along with negative sentiment surrounding
a Chinese slowdown, and earnings season and the fiscal cliff
garnering negative attention in the U.S., visibility for equity
markets in the short term remains clouded to say the least,"
said Daniel Victory at Capital Spreads in London.
A central bank stimulus-inspired rally that pushed global
equities up around 15 percent from the lows of early June has
stalled this week.
London's FTSE 100, Frankfurt's DAX and the
CAC in Paris were all in negative territory at 0715 GMT.
Following a flat finish on Wall Street, MSCI's broadest
index of Asia Pacific shares outside Japan rose
0.3 percent, but Japan's Nikkei fell 0.2 percent to its
lowest close in more than two months.
With many markets stuck in ranges as investors wait to see
whether Spain requests a bailout, the euro tracked up to
$1.2962. German Bund futures were 21 ticks higher at
141.36 at 0715 GMT while Spanish and Italian bond yields were
Commodities - with the exception of oil - were also mostly
set to end the week in the red as investors fretted about the
slowdown in China, which is due to release its latest trade data
at the weekend.
Gold was trading at $1,769.84 an ounce, on course for a
0.6-percent weekly loss, its sharpest one-week drop in two
Tensions between Turkey and Syria continued to support oil,
with Brent crude holding above $115 a barrel, set for
its biggest weekly gain in two months, while U.S. crude
firmed above $92.
"Crude is responding positively to the U.S. economic data
and ongoing tensions in the Middle East are adding to supply
concerns," said Tim Waterer, a senior trader at CMC Global
Markets in Sydney.
Investors were also cautious ahead of a busy day of data
which includes what are expected to be upbeat European
industrial production numbers later.
With the third quarter U.S. reporting season under way eyes
are also on how J.P. Morgan fares when it posts its
results later on Friday in the United States.