European Shares Seen Rising, Fed in Focus


European stocks were seen rising for a third consecutive session on Monday, buoyed by renewed mergers and acquisitions activity in the mining sector and by hopes the U.S. Federal Reserve will slash interest rates when it meets this week.

Financial bookmakers, or spread betters, in London expected Britain's FTSE 100 index to open between 62 and 69 points higher, the German DAX 69 to 71 points higher and the French CAC 40 50 to 65 points higher.

Anglo-Swiss miner Xstrata offered A$3.1 billion ($2.8 billion) on Monday for Australia's fifth-largest nickel producer Jubilee Mines.

Energy shares could also gain ground as U.S. crude rose above $93 a barrel for the first time following a brief halt to one-fifth of Mexico's production.

"Continued speculation that we'll see another rate cut from the Fed this week boosted equities on Wall Street on Friday night and has been providing cheer through the Asian session too. This fact alone is expected to leave the main European indices to start the week in an upbeat mood," Matt Buckland, trader at CMC Markets, wrote in a note.