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European Shares Set for Modest Rise

European shares are expected to stage a small recovery at the start of trade on Wednesday, helped by a firmer performance on Wall Street, although with so much concern persisting on the impact of the oil price on the global economy, gains are likely to be modest.

Financial spreadbetters expect Britain's FTSE 100 to open 24 to 29 points higher; Germany's DAX to open 3 to 12 points higher and France's CAC-40 to open 17 to 21 points up.

European shares as reflected by the FTSEurofirst 300 index fell 2.2 percent on Tuesday as fresh concern about the outlook for banks and worries about the impact on inflation from strong crude oil prices hit the market.

A modest rise on Wall Street on Tuesday thanks to a surprise rise in sales at General Motors will offer a degree of support to the European markets, but a fresh rise in the oil price will temper gains.