LONDON, June 11: European shares are set to surge on Wednesday, with investors seen rushing back to riskier assets after euro zone finance ministers agreed to lend Spain up to $125 billion to help its battered banks, and Chinese trade data beat predictions.
Financial spreadbetters predicted Britain’s FTSE 100
To open about 99 points higher, or 1.8 percent, Germany’s DAX to jump 159-161 points, or as much as 2.6 percent, and France’s CAC-40 to climb 60 to 64 points, or as much as 2.1 percent.
Asian markets leapt as sentiment improved after the 17-nation euro currency area agreed on Saturday to lend Madrid up to 100 billion euros ($125 billion) for its bank rescue fund, more than an initial audit suggested it might need. The country said the amount of the bailout would be sufficiently large to banish any doubts over the survival of the Spanish banking sector.
(agencies)
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