European Shares Seen Up After 5-Day Decline

European shares were seen rising on Wednesday after five days of losses while investors may find some comfort on a report that U.S. bond insurer Ambac Financial Group is moving closer to a bail out.

A deal to rescue Ambac seems imminent, and that helped the broader U.S. stock market pare back losses during its last trading hour.

Financial bookmakers expect Britain's FTSE 100 to gain between 15 to 19 points, Germany's DAX to rise 38 to 49 points and sees France's CAC 40 up 30 to 46 points.

European shares fell on Tuesday as a weaker outlook from U.S. chipmaker Intel hurt technology stocks while concerns about possible trading losses at banks and at their hedge fund clients fuelled fears over the outlook for the financial sector.

Investors will look to U.S. factory orders for January and U.S. non-manufacturing data for February for the latest insight into the state of the world's largest economy.