Europe Factors-Shares seen up; G20 keeps stimulus plans

European equities were poised to rise on Monday, adding to the previous session's rally and mirroring gains on Wall Street and in Asia, as investors applauded the G20's pledge to maintain their economic stimulus plans. In a closing statement, the Group of 20 finance ministers and central bankers said they would not remove economic stimulus until the global recovery was well entrenched. Financial spreadbetters expected Britain's FTSE 100 to open 26 to 31 points higher, or as much as 0.6 percent, Germany's DAX to open 33 to 41 points higher, or as much as 0.8 percent, and France's CAC-40 to open 14 to 19 points higher, or as much as 0.5 percent.

European stocks, drawing some support from better-than-expected U.S. jobs data, snapped four days of losses on Friday, gaining 1.3 percent, with banking and mining stocks the major gainers.

MARKET SNAPSHOT

LAST PERCENT CHG NET CHG

S&P 500 1,016.40 1.31 % 13.16

NIKKEI 10,290.46 1.01 % 103.35

MSCI ASIA EX-JP 436.32 1.19 % 5.11

EUR/USD 1.4332 0.16 % 0.0023

USD/JPY 93.13 0.19 % 0.1800

10-YR US TSY YLD 3.445 — 0.00

10-YR BUND YLD 3.261 — 0.01

SPOT GOLD $992.25 -0.12 % -$1.15

US CRUDE $68.25 0.34 % 0.23

* Wall St gains for 2nd day; tech shares outperform