European stocks opened lower on Thursday, tracking weakness on Wall Street and as oil prices hit a new record high of $68 a barrel, stoking fears that growth in company profits would slow. The DJ Stoxx technology sector was the biggest loser, with telecoms equipment maker Ericsson and chip maker Infineon, both down 1 percent. "There are plenty of reasons not to own the market. Earnings are out of the way and oil is in focus," said one trader. By 0715 GMT, the pan-European FTSEurofirst index of 300 blue chips was 0.6 percent weaker at 1,174.2 points, its lowest level since August 5 and retreating further from 3-year highs struck this month. "The shock of oil hitting $60, and then $65 per barrel has now been replaced by the worry of it hitting $70, a previously unthinkable level," said Mark Chesterman, a trader at spread betters IG Index. --More 1134 Local Time 0834 GMT
