European Shares to Open Sharply Higher - Companies * Europe * News * Story

SPECIAL REPORTS

Risk & You
It's a risky world out there. Whether it's investment or retirement, career or home you can take steps to lower your risk profile.
Wall Street In Crisis
With shock after shock to the world's financial system, the credit crunch continues to drive a major reconfiguration of the Wall Street landscape.
Protecting Your Portfolio
Credit Crunch. Recession. Bear Market. There's a triple threat out there for investors. Here's a guide to managing your money.
More Special Reports

European Shares to Open Sharply Higher

Reuters | 29 Oct 2008 | 03:25 AM ET

Text Size

European stock index futures rose sharply on Wednesday, after U.S. and Asian stocks soared and investors bet on a U.S. rate cut later in the day.

At 0707 GMT, futures for the DJ Euro Stoxx 50 and for France's CAC added about 5 percent, and for Germany's DAX gained 3.4 percent.

Wall Street marked its second best day ever on Tuesday, with major U.S. stock indexes surging about 10 percent.

The U.S. Federal Reserve is set to announce its rate verdict at 1815 GMT.

In a Reuters survey, primary dealers expect the Fed funds rate will be cut to 1 percent from 1.5 percent.

Japan also signalled on Wednesday it could follow the U.S. in cutting interest rates this week.

Tokyo's Nikkei average soared 7.7 percent.

Tools: