GLOBAL MARKETS - Stocks skid on record high oil, euro slumps

By Louise Heavens

SINGAPORE (Reuters) - Oil's relentless push to yet another record high pressured Asian shares across the board on Thursday, raising fears that inflation -- and central bank measures to cool it -- would hurt consumer spending and profits.

European markets were set to open lower, with financial bookmakers in London expecting Britain's FTSE 100, Germany's Dax, and France's CAC-40 to open between 0.4-0.7 percent lower.

The euro tumbled to a two-month low against the dollar as weak euro zone retail sales figures on Wednesday sparked concern about the region's economy ahead of a European Central Bank meeting later on Thursday.

Also weighing on the euro was a Financial Times article that said the United States and Europe now have a united desire to see the dollar strengthen against the European currency, some traders said.

The rising dollar put pressure on gold and industrial metals as they became more expensive in other currencies.

U.S. crude was steady at $123.48 in Asia by 0629 GMT, holding close to a record $123.93 hit earlier.

Oil prices have doubled in a year and risen sixfold since 2002 on rising demand from China and other developing countries, adding pressure to economies already hit hard by a housing and credit crunch and rising food costs.

Crude rose despite news of a large increase in U.S. crude inventories.