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European shares open higher on global economic recovery optimism

Article By: ,  Financial Analyst
September 9, 2013 1:24 PM

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European equity futures opened higher on Monday as increasing signs of a global economic recovery continue to draw in investors, although worries about a possible US-led military strike on Syria may limit gains on the stock market.

Traders added that better-than-expected forecast export data from China, the world’s biggest metal consumer, and a rally in Japanese shares would further increase European equities.

At 8am GMT future contracts for UK FTSE were up 20 points, trading around the 6559 level, while contracts for Germany’s DAX were up around 12 points at 8278.

The biggest risers and fallers for the FTSE were ARM Holdings, which were up by 2.07%, and BG Group, which were down by 4.25%.

Increasing signs of an economic recovery in Europe have led several strategists to raise their ratings on European shares, and Reuters data has shown US investors slowly raising their exposure to European equities as they switched out of domestic, emerging market and Japanese stocks.

Moving over to company news: It was revealed that Vodafone may fail to reach the 75% threshold of acceptance from shareholders that are required to Settle Germany’s largest cable operator Kabel Deutschland.

Furthermore, in terms of economic data today and tomorrow will be quiet and no major figures are expected.

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