European shares were seen opening higher on Thursday on stronger than expected corporate earnings in the U.S. which offset worries about a slowdown in the world’s largest economy and on hopes German lawmakers would approve a planned bailout of the Spanish banking system.
The FTSE was seen opening higher by 12 points at 5956, the DAX was expected to open higher by 40 points at 6724 and the CAC40 was expected to open higher by 30 points at 3265.
German lawmakers look set to approve Berlin's contribution to the euro zone aid package for Spain's struggling banks in a vote seen as a test of German chancellor Angela Merkel's authority within her center-right coalition.
Merkel can count on broad opposition support to push the bill through the Bundestag, the lower house of parliament, but some members of her own coalition, nervous about the rising costs of the euro zone debt crisis for Germany, may rebel.
But Spain's mid-term borrowing costs are expected to rise at an auction on Thursday with investors still unconvinced the government can control its finances and revive growth, despite broad spending cuts and tax hikes unveiled last week.
Page 1 of 4 | Next Page