Reuters: Market News: European Factors-Shares set to extend rebound

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European Factors-Shares set to extend rebound Mar 27th 2012, 05:24 Tweet Share this Email Print Related Topics Stocks » European Markets » Markets » Tue Mar 27, 2012 1:24am EDT PARIS, March 27 (Reuters) - European stocks were set to rise on Tuesday, tracking sharp gains on Wall Street and in Asia following comments from the U.S. Federal Reserve Chairman Ben Bernanke who signalled that ultra-loose monetary policy was still needed to support the frail economic recovery. Financial spreadbetters expected Britain's FTSE 100 to open 12 to 18 points higher, or as much as 0.3 percent, Germany's DAX to open 59 to 60 points higher, or as much as 0.9 percent, and France's CAC-40 to open 16 to 18 points higher, or as much as 0.5 percent. The S&P 500 rebounded from last week's drop to retake a four-year high on Monday, while Japan's Nikkei rose 1.9 percent on Tuesday to hit its highest level since the massive earthquake and tsunami on March 11 last year. While Bernanke did not hint at a third round of bond purchases, he made clear the Fed is in no rush to reverse course after responding aggressively to a deep recession. "While the market didn't interpret this as a sign that 'QE3' was imminent, it provided a level of reassurance that the Fed stood ready to act with further stimulus if needed," IG Markets analyst Cameron Peacock said. -------------------------------------------------------------------------------- MARKET SNAPSHOT AT 0518 GMT LAST PCT CHG NET CHG S&P 500 1,416.51 1.39 % 19.4 NIKKEI 10,235.59 2.17 % 217.35 MSCI ASIA EX-JP 523.31 1.4 % 7.23 EUR/USD 1.335 -0.02 % -0.0003 USD/JPY 82.85 -0 % 0.0000 10-YR US TSY YLD 2.253 -- 0.00 10-YR BUND YLD 1.928 -- -0.02 SPOT GOLD $1,688.18 -0.21 % -$3.56 US CRUDE $106.78 -0.23 % -0.25 GLOBAL MARKETS-Asian stocks up as Bernanke soothes investors Nikkei marks 8-1/2 mth high after Bernanke comments US STOCKS-Bernanke's words drive Wall St up 1 pct FOREX-Dollar stung by dovish Fed, hovers near 1-mth low METALS-Copper steady after rally on U.S. easing hopes Gold eases after rally; Bernanke boosts sentiment Brent crude stays above $125 on Fed comments, Iran Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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