In Europe: Shares track U.S. futures higher

10 May 2012


A much needed break from Greece’s woes….likely to resume very soon.

European shares tracked U.S. index futures into positive territory at mid-session, pausing after two sessions in the red ahead of the latest report on the U.S. labor market.

Weekly jobless claims, due at 1230 GMT, were seen rising by 4,000 to 369,000, in the first gauge of the labor market since last week’s payrolls report, which came in sharply below expectations.

The FTSEurofirst 300 index rose 0.2 percent to 1,016.39 by 11.44 GMT, bouncing off a support level in the 1,011 area, led by a rebound in battered banking stocks.

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