European stock index futures point to jump at open

Mon Oct 13, 2008 11:40am IST
 
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PARIS, Oct 13 (Reuters) - European stock index futures pointed to a jump when shares start trading on Monday, as governments moved to stabilise the banking system.

At 0605 GMT, futures for the Eurostoxx 50 STXEc1, Germany's DAX FDXc1 and the French CAC 40 FCEc1 were up between 6.3 percent and 7.6 percent. After an emergency meeting in Paris over the weekend, European governments agreed to provide capital for banks caught short of funds because of frozen money markets and to insure or buy into new debt issues.

European stocks plummeted 22 percent last week on fears that the escalating credit crisis would topple more banks and trigger a global recession.

(Reporting by Blaise Robinson)

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