LONDON, Dec 10 (Reuters) - European shares rose in early trade on Wednesday, with oils gaining on firmer crude prices and after Asian shares rose on hopes government bailout packages worldwide will restore market confidence.
At 0814 GMT, the FTSEurofirst 300 index of top European shares was up 0.5 percent at 864.24 points. On Tuesday, the index rose 1.4 percent but has lost more than 42 percent this year, battered by a credit crisis that has helped to push several major economies into recession.
Total, ENI and BP rose 0.5 to 1.2 percent, as crude rose more than 2 percent to $43.17 a barrel.
Japan's Nikkei rose 3.2 percent on Wednesday on hopes governments worldwide will help out ailing industries and implement stimulus measures as they fight back against a deepening economic crisis.
The White House and U.S. Congressional Democrats reached a tentative agreement on a bailout for beleaguered U.S. auto makers, sending counterparts such as Honda Motor sharply higher.
U.S. stocks fell on Tuesday as profit warnings from FedEx Corp and others prompted investors to retrench after two days of big gains, while unprecedented demand for the safety of government securities signaled fear remains a dominant force in the market.
The Dow Jones industrial average fell 2.7 percent, the Standard & Poor's 500 Index gave up 2.3 percent and the Nasdaq Composite Index fell 1.6 percent.
'There's a two-way pull. Bad earnings news, the likes of FedEx, is baked in the cake now,' said Bernard McAlinden, investment strategist at NCB Stockbrokers in Dublin.
'Markets have adjusted so much to an appalling view of the future. But we've never seen such a massive policy response before. And there's a lot of cash sitting on the sidelines.'
Across Europe, Britain's FTSE 100 was up 0.4 percent, France's CAC-40 was up 0.5 percent and Germany's DAX rose 0.9 percemt.
(Reporting by Brian Gorman)
((Reuters Messaging brian.gorman.thomsonreuters.com@reuters.net))
Keywords: MARKETS EUROPE STOCKS/OPEN
(Corrects 'gain' in headline from 'gains')
LONDON, Dec 10 (Reuters) - European shares rose in early trade on Wednesday, with oils gaining on firmer crude prices and after Asian shares rose on hopes government bailout packages worldwide will restore market confidence.
At 0814 GMT, the FTSEurofirst 300 index of top European shares was up 0.5 percent at 864.24 points. On Tuesday, the index rose 1.4 percent but has lost more than 42 percent this year, battered by a credit crisis that has helped to push several major economies into recession.
Total, ENI and BP rose 0.5 to 1.2 percent, as crude rose more than 2 percent to $43.17 a barrel.
Japan's Nikkei rose 3.2 percent on Wednesday on hopes governments worldwide will help out ailing industries and implement stimulus measures as they fight back against a deepening economic crisis.
The White House and U.S. Congressional Democrats reached a tentative agreement on a bailout for beleaguered U.S. auto makers, sending counterparts such as Honda Motor sharply higher.
U.S. stocks fell on Tuesday as profit warnings from FedEx Corp and others prompted investors to retrench after two days of big gains, while unprecedented demand for the safety of government securities signaled fear remains a dominant force in the market.
The Dow Jones industrial average fell 2.7 percent, the Standard & Poor's 500 Index gave up 2.3 percent and the Nasdaq Composite Index fell 1.6 percent.
'There's a two-way pull. Bad earnings news, the likes of FedEx, is baked in the cake now,' said Bernard McAlinden, investment strategist at NCB Stockbrokers in Dublin.
'Markets have adjusted so much to an appalling view of the future. But we've never seen such a massive policy response before. And there's a lot of cash sitting on the sidelines.'
Across Europe, Britain's FTSE 100 was up 0.4 percent, France's CAC-40 was up 0.5 percent and Germany's DAX rose 0.9 percemt.
(Reporting by Brian Gorman; Editing by Erica Billingham) Keywords: MARKETS EUROPE STOCKS/OPEN (Reuters Messaging brian.gorman.thomsonreuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2008. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
At 0814 GMT, the FTSEurofirst 300 index of top European shares was up 0.5 percent at 864.24 points. On Tuesday, the index rose 1.4 percent but has lost more than 42 percent this year, battered by a credit crisis that has helped to push several major economies into recession.
Total, ENI and BP rose 0.5 to 1.2 percent, as crude rose more than 2 percent to $43.17 a barrel.
Japan's Nikkei rose 3.2 percent on Wednesday on hopes governments worldwide will help out ailing industries and implement stimulus measures as they fight back against a deepening economic crisis.
The White House and U.S. Congressional Democrats reached a tentative agreement on a bailout for beleaguered U.S. auto makers, sending counterparts such as Honda Motor sharply higher.
U.S. stocks fell on Tuesday as profit warnings from FedEx Corp and others prompted investors to retrench after two days of big gains, while unprecedented demand for the safety of government securities signaled fear remains a dominant force in the market.
The Dow Jones industrial average fell 2.7 percent, the Standard & Poor's 500 Index gave up 2.3 percent and the Nasdaq Composite Index fell 1.6 percent.
'There's a two-way pull. Bad earnings news, the likes of FedEx, is baked in the cake now,' said Bernard McAlinden, investment strategist at NCB Stockbrokers in Dublin.
'Markets have adjusted so much to an appalling view of the future. But we've never seen such a massive policy response before. And there's a lot of cash sitting on the sidelines.'
Across Europe, Britain's FTSE 100 was up 0.4 percent, France's CAC-40 was up 0.5 percent and Germany's DAX rose 0.9 percemt.
(Reporting by Brian Gorman)
((Reuters Messaging brian.gorman.thomsonreuters.com@reuters.net))
Keywords: MARKETS EUROPE STOCKS/OPEN
(Corrects 'gain' in headline from 'gains')
LONDON, Dec 10 (Reuters) - European shares rose in early trade on Wednesday, with oils gaining on firmer crude prices and after Asian shares rose on hopes government bailout packages worldwide will restore market confidence.
At 0814 GMT, the FTSEurofirst 300 index of top European shares was up 0.5 percent at 864.24 points. On Tuesday, the index rose 1.4 percent but has lost more than 42 percent this year, battered by a credit crisis that has helped to push several major economies into recession.
Total, ENI and BP rose 0.5 to 1.2 percent, as crude rose more than 2 percent to $43.17 a barrel.
Japan's Nikkei rose 3.2 percent on Wednesday on hopes governments worldwide will help out ailing industries and implement stimulus measures as they fight back against a deepening economic crisis.
The White House and U.S. Congressional Democrats reached a tentative agreement on a bailout for beleaguered U.S. auto makers, sending counterparts such as Honda Motor sharply higher.
U.S. stocks fell on Tuesday as profit warnings from FedEx Corp and others prompted investors to retrench after two days of big gains, while unprecedented demand for the safety of government securities signaled fear remains a dominant force in the market.
The Dow Jones industrial average fell 2.7 percent, the Standard & Poor's 500 Index gave up 2.3 percent and the Nasdaq Composite Index fell 1.6 percent.
'There's a two-way pull. Bad earnings news, the likes of FedEx, is baked in the cake now,' said Bernard McAlinden, investment strategist at NCB Stockbrokers in Dublin.
'Markets have adjusted so much to an appalling view of the future. But we've never seen such a massive policy response before. And there's a lot of cash sitting on the sidelines.'
Across Europe, Britain's FTSE 100 was up 0.4 percent, France's CAC-40 was up 0.5 percent and Germany's DAX rose 0.9 percemt.
(Reporting by Brian Gorman; Editing by Erica Billingham) Keywords: MARKETS EUROPE STOCKS/OPEN (Reuters Messaging brian.gorman.thomsonreuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2008. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.