European shares set to gain for sixth session
Wednesday, 14 July 2010
LONDON, July 13 (Reuters): European shares were seen extending their rally into a sixth straight session Tuesday, as better-than-expected quarterly earnings from US firm Alcoa boosted investor confidence that the latest round of earnings from the US could exceed estimates.
Gains, however, could be limited after reports that Beijing will not relax tougher property measures any time soon, touching a nerve among investors who are already sensitive to how much China's economy is slowing and hurting Asian shares.
Financial spreadbetters expected Britain's FTSE 100 to open between 25 and 35 points higher, or up 0.7 per cent; Germany's DAX was seen opening up 11 to 21 points, or up 0.4 per cent and France's CAC 40 was expected to open 17 to 18 points higher, or 0.5 per cent higher.
Individual companies likely to be in focus Tuesday include BP after the oil major said it had installed and was ready to test a cap that, if successful, would for the first time stop the oil spewing from its ruptured well in the Gulf of Mexico.
Gains, however, could be limited after reports that Beijing will not relax tougher property measures any time soon, touching a nerve among investors who are already sensitive to how much China's economy is slowing and hurting Asian shares.
Financial spreadbetters expected Britain's FTSE 100 to open between 25 and 35 points higher, or up 0.7 per cent; Germany's DAX was seen opening up 11 to 21 points, or up 0.4 per cent and France's CAC 40 was expected to open 17 to 18 points higher, or 0.5 per cent higher.
Individual companies likely to be in focus Tuesday include BP after the oil major said it had installed and was ready to test a cap that, if successful, would for the first time stop the oil spewing from its ruptured well in the Gulf of Mexico.