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European Shares Expected to Open Higher

European shares are expected to open higher on Thursday with the DAX, CAC and FTSE 100 predicted to begin trade 30 points higher by spread betters in London.

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That follows gains for Asian equities excluding the Nikkei which fell on news that the recent earthquake, tsunami and nuclear disaster saw first quarter GDP contract by 0.9 percent.

The dollar was broadly lower in overnight trade as commodities rebounded, US crude prices trading above 100 dollars a barrel in Asian trade.

With investors largely ignoring the ongoing divisions about what to do about the Greek debt crisis Spain will test the market with the sale of 4 billion euros worth of 10 and 30 year debt.

The results of that auction expected around 10:40 CET.

Watch shares in Airbus owner EADS at the open following the WTO’s ruling which found that Europe did not break the rules on export subsidies with the A380 but ruled the 18 billion euros worth of aid was quote “unfair”.