European Shares Set to Rise with Commodities

European stocks were set to rise on Monday, adding to the previous session's gains, as buoyant commodity prices support shares of mining and energy companies.

Financial bookmakers, or spread betters, in London expected Britain's FTSE 100 index to open between 9 and 16 points higher, the German DAX 11 points to 17 points higher, and the French CAC 40 up 6 to 15 points.

The FTSEurofirst 300 index of top European shares ended 0.5 percent higher on Friday, led by a rally in mining shares and UBS, which came under pressure to break up, but a surprisingly large fall in U.S. jobs data capped gains. The index ended the week up 4.1 percent, boosted by strong gains in bank stocks on hopes that the worst of asset writedowns may be over in the
banking sector.

"A strongish open for Europe but with no real momentum to speak of today. If we can consolidate recent gains this week we'll have done well and the market will be one step closer to survival," Oliver Stevens, head of dealing at IG Markets, wrote in a note.