Rallying banks helped lift European shares to a two-week high on Wednesday, with equities rising for the third session, as forecast-beating results from BNP Paribas fuelled confidence in the banking sector. By 1126 GMT, the pan-European FTSEurofirst 300 index of top European shares was up 0.9 percent at 1,011.56 points after rising to a high

Britain's top share index was up 0.6 percent by midday on Wednesday as financials and miners rose, bolstered by growing confidence on the global economic outlook, while Man Group jumped on M&A talk. By 1148 GMT the FTSE 100 was up 30.14 points, at 5,274.20, touching a two-week high after it added 1.5 percent on

France's biggest listed bank BNP Paribas took fewer bad debt provisions than expected in the fourth quarter, helping it beat profit forecasts, and said these charges would be lower again in 2010. BNP struck a relatively confident note despite the economic uncertainty clouding the banking industry. Its profit was up on the previous quarter and

Stock index futures pointed to a higher open on Wednesday, boosted by strong results from farm equipment maker Deere & Co, as investors awaited data on the housing market and industrial production. Corporate earnings continue to pour in, as Deere & Co (DE.N), surged 7.6 percent to $57.87 in premarket trade after posting first-quarter results

The fundamental credit outlook for the Kuwaiti banking system remains negative, although implementation of the government's four-year development plan could stimulate the weakened operating environment of the small and undiversified non-oil private sector, Moody's Investors Service said in its new Banking System Outlook. The Kuwaiti state remains affluent, but Moody's cautioned that the emirate's economy

Moody's Investors Service has upgraded the foreign currency deposit ratings of Samba Financial Group, Banque Saudi Fransi and Saudi British Bank to Aa3 from A1 (positive). The foreign currency deposit ratings of these three Saudi Arabian banks are now at the same level and no longer constrained by the country ceiling for such deposits. The

Moody's Investors Service has upgraded Saudi Arabia's foreign and local currency government ratings to Aa3 from A1 and the country ceiling for foreign currency bank deposits to Aa3 from A1. The country ceiling for foreign currency bonds, the local currency ceiling for bonds and the local currency bank deposit ceiling were confirmed at Aa3. The

European equities advanced for a third straight session to a two-week high on Wednesday as forecast-beating results from BNP Paribas helped banks and stronger commodity prices supported mining and energy shares. Charts pointed to further gains in the near term and risk appetite grew as soothing results from banks such as Barclays, Credit Suisse and