European shares seen bouncing back on U.S. debt deal

European shares were expected to bounce back on Monday, mirroring strong gains in Asia, with investors' appetite for riskier assets seen rising after U.S. lawmakers agreed on a deal to increase the borrowing limit to avert a default.
Financial spreadbetters expected Britain's FTSE 100 to open 65 to 69 points higher, or as much as 1.2%, Germany's DAX to open 79 to 80 points stronger, or 1.1%, and France's CAC-40 to rise 41 points, or 1.1%.
"The package still has to be voted on and that's something that should happen in the next couple of days, but at least markets in general are finding some cheer off the news that default appears to have been averted," said Cameron Peacock, analyst at IG Markets.
"Obviously there's now going to be a degree of waiting as traders sit tight for the formal side of the transaction to take place in Washington and with August now upon us, already depressed volumes could well be even lower."