European shares set to climb

European stocks were set to climb on Friday. At 0710 GMT, futures for Euro STOXX 50, for Germany's DAX and for France's CAC were up 0.9-1.1 per cent. On Thursday, European stocks surged with the market supported by a rise in Greek shares. The FTSEurofirst 300 index of top European shares closed up 3 per cent at 1,356.23 points. The Athens Composite Index erased earlier losses to trade 1.5 per cent higher. Oil companies benefited from a short-lived rise in oil prices, as Brent crude jumped to $63 per cent per barrel before falling back after European markets had closed. Norway's energy services firm Seadrill closed up 9 per cent. The STOXX 600 Oil & Gas sector was up 2.7 per cent, but remains down more than 18 per cent. Alcatel-Lucent rose 8.7 per cent on a report that it could merge with fellow telecom equipment firm Nokia. Swisscom sank to the bottom of the FTSEurofirst 300, down 7.9 per cent, according to Reuters.