Information Channel

Local Time: 5/9/2010 9:25:54 PM GMT Time: Sun, 5 Sep 2010 19:25:54

European shares set to rally after Apple earnings (7/21/2010)

European shares were set to rally on Wednesday, as investors confidence was bolstered by strong earnings from Apple and gains overnight in Asia and on Wall Street.

Financial spreadbetters expected Britain's FTSE 100 <.FTSE> to open 50-57 points higher, or up 1.1 percent; Germany's DAX <.GDAXI> was seen up 47-48 points, or 0.8 percent higher, and France's CAC 40 <.FCHI> was expected to add 35 points, or 1.5 percent. After U.S. markets closed, Apple Inc gave an unusually upbeat revenue forecast that exceeded Wall Street's expectations and eased fears that the controversy around its iPhone 4 reception would hurt sales. [ID:nN2096579] The FTSEurofirst 300 <.FTEU3> index of top European shares closed 0.04 percent higher at 1,006.64 points on Tuesday, as European stocks paused after a one-week losing run.

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