European Factors to Watch-Shares seen up as Syria concerns ease
Wed Sep 11, 2013 6:30am BST
LONDON, Sept 11 (Reuters) - European shares were likely to extend gains to
trade near three-month highs on Wednesday, with ebbing concerns about a military
attack on Syria and recent data indicating an improving economic outlook
boosting sentiment.
U.S. President Barack Obama pledged on Tuesday to explore Russia's proposal
for Syria to place its chemical weapons under international control and said he
had asked Congress to postpone a vote on authorising military
action.
"It's hard to find a more market-friendly outcome from the developments and
Russia, the U.S., Syria, Israel, and many other nations will be fairly content
about the fact that ultimately key leaders are finding good middle ground,"
Chris Weston, chief market strategist at IG, said in a note.
Financial spreadbetters predicted Germany's DAX to gain 20 to 23
points, or as much as 0.3 percent, Britain's FTSE 100 to rise 4 to 5
points, or 0.1 percent, and France's CAC 40 also to advance just 4 to 5
points.
The FTSEurofirst 300 index ended 1.3 percent firmer on Tuesday at
1,243.60 points, the highest since late May. It is up 9.6 percent this year
partly on improving economic outlook. Data from China, the United States and
Europe have all suggested that the global economy is gathering steam.