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European Shares Set to Rise as Oil Dips

Major European stock indexes were expected to add 0.5 percent at the open on Wednesday, financial bookmakers said, aided by a dip in oil prices and regaining some ground from a 2-percent slide on Tuesday.

Financial spreadbetters expected Britain's FTSE 100 to open up 26-27 points, Germany's DAX up 28-30 points and France's CAC up 18-20 points -- all up 0.5 percent.

The bounce follows a 2.1-percent fall on the pan-European FTSEurofirst index the day before, when concerns for the financial sector rattled the market.

A drop in oil prices towards $138 a barrel was also set to provide the market with some relief from inflation concerns, after crude futures fell more than $6 in the previous session.

European shares were seen shaking off hefty overnight losses on Wall Street, after the Dow Jones industrials average closed below 11,000 for the first time in two years on Tuesday on concerns for the financial sector. Asian stocks also slipped.