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European Shares Seen Slightly Higher, RBS in Focus

European shares are set for a modest gain on Wednesday, snapping a five-day losing run, with losses in the U.S. keeping a leash on gains while Asian markets ticked up.

The FTSEurofirst 300 index of top European shares ended the previous session 0.7 percent lower at 1,271.24 points.

Wall Street mostly sagged on Tuesday as concern that interest rates will climb hurt technology shares, but the Dow Jones Industrial Average managed to close on the positive side after an upgrade of Coca-Cola shares.

Financial bookmakers see Britain's FTSE 100 index opening up 17 to 22 points, Germany's DAX up 8 to 9 points and France's CAC-40 up 4 to 8 points.

Investors trying to gauge the health of a banking sector rattled by a credit crisis will focus on a trading update from Royal Bank of Scotland.

In the UK, Cable & Wireless and Johnson Matthey are due to trade without the right to dividend, and are together expected to take 0.75 points off the FTSE 100 index according to Reuters calculations.