Bloomberg News

European Stock Futures Rise on Euro Support Pledge

July 30, 2012

European stock futures rose, indicating the region’s equities will climb for a third day, amid optimism the European Central Bank will win support from policy makers to take steps to ease the euro area’s debt crisis. U.S. index futures fell, while Asian shares advanced.

Air France-KLM (AF) Group may be active after it posted a narrower second-quarter loss. Ryanair Holdings Plc might move after saying fiscal first-quarter earnings tumbled as fuel costs increased. Stagecoach Group Plc (SGC) may advance after the stock was upgraded at HSBC Holdings Plc.

Futures on the Euro Stoxx 50 Index expiring in September gained 1 percent to 2,318 at 7:11 a.m. in London, while FTSE 100 Index futures increased 0.4 percent. Contracts on the Standard & Poor’s 500 Index declined 0.3 percent, while the MSCI Asia Pacific Index jumped 1 percent.

“Speculation has intensified as to what we’ll hear from the European Central Bank,” Cameron Peacock, a market analyst at IG Markets in Melbourne, wrote in an e-mail to clients. “A rate cut, a resumption of bond purchases and a new long-term refinancing operation are just some of the measures supposedly being considered.”

To contact the reporter on this story: Tom Stoukas in Athens at astoukas@bloomberg.net

To contact the editor responsible for this story: Andrew Rummer at arummer@bloomberg.net


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