European Shares Indicated To Open Higher; Buffett Helps

European stock index futures pointed to a higher open on Tuesday after bullish comments by Warren Buffett helped Wall Street gain overnight and Asian stocks rose as slowing China PMI data eased inflation concerns.

Sharon Lorimer

European shares rose on Monday, gaining for the third straight month after St.Louis Federal Reserve President James Bullard gave a bullish U.S. outlook, easing investor fears high oil prices would hurt growth.

As political unrest continues to spread across the Middle East, sending oil prices higher, investors will focus on Egypt once more on Tuesday.

The Egyptian stock exchange's opening was postponed yet again, after being closed for more than a month. According to the latest information, the exchange is set to open Sunday.

Many analysts expected heavy selling, but the exchange's vice chairman told CNBC that was not a foregone conclusion.

On Tuesday, the euro zone manufacturing purchasing managers index, as well as a euro zone inflation estimate for February will provide an indication of the health of the group of 17 economies that share the euro.

The European Commission will release January unemployment figures for the euro zone.

And the Bank of England releases data on the current state of lending to individuals in the UK as well as its January analysis of financial institutions' deposits from and lending to UK