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Europe stock futures jump after US, Asia soar

Europe stock futures jump after US, Asia soar
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First Published: Wed, Oct 29 2008. 04 33 PM IST
Updated: Wed, Oct 29 2008. 04 33 PM IST
London: European stock index futures rose sharply on Wednesday, after US and Asian stocks soared and investors bet on a US rate cut later in the day.
Futures for the DJ Euro Stoxx 50 and for France’s CAC added about 5%, and for Germany’s DAX gained 3.4%.
Wall Street marked its second best day ever on Tuesday, with major US stock indexes surging about 10%.
The US Federal Reserve is set to announce its rate verdict at 1815 GMT. In a Reuters survey, primary dealers expect the Fed funds rate will be cut to 1% from 1.5%.
Japan also signalled on Wednesday it could follow the US in cutting interest rates this week. Tokyo’s Nikkei average soared 7.7%.
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First Published: Wed, Oct 29 2008. 04 33 PM IST