European shares were called to open higher on Thursday on fresh hopes that German and European Union officials are exploring ways to rescue Spain's debt-stricken banks, although Madrid has not yet requested assistance.
The FTSE is called to open 44 points higher at 5428, the DAX is seen opening 63 points higher at 6157 and the CAC is expected to open 33 points higher at 3091.
Spain is resisting being placed under international supervision , European sources told Reuters on Wednesday.
It will test its access to the credit markets when it sells bonds on Thursday, though there is growing concern over the government's capacity to prop up ailing banks and go on paying the high interest rates it is being charged.
If Spain were to ask for a rescue package, it would be the intelligent choice and would help restore investors' confidence in the country's banking sector, according to European Central Bank (ECB) Governing Council Member Ewald Nowotny..
His comments followed the announcement by the ECB on Wednesday that it was leaving its key interest rate unchanged, although it extended some of its liquidity-providing operations in order to help financial markets cope with the effects of the euro zone's debt crisis.Page 1 of 3 | Next Page