Europe Factors-Shares set to rise ahead of Fed

13/03/2012 11:07 AST  Reuters

European stock index futures signaled strong gains on Tuesday, with stocks set to reverse the previous day's dip and resume their recent rally, boosted by expectation German and U.S. macro data will add to recent upbeat figures ahead of the Federal Reserve's policy statement.

At 0730 GMT, futures for Euro STOXX 50, for Germany's DAX and for France's CAC were up 0.8-1.0 percent.

Germany's ZEW economic sentiment, due at 1000 GMT, is seen at 10.0 versus 5.4, while U.S. February retail sales, due at 1230 GMT, are expected to show a 1.0 percent rise, compared with a 0.4 percent increase in January.

Both the broad FTSEurofirst 300 index and the euro zone's blue chip Euro STOXX 50 index, which have moved sideways over the past five weeks, will run into strong resistance at 1,091.81 points and 2,557.86 points respectively, representing 7-month highs hit in late February.

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