European shares rose while the single currency languished near 10-day lows on Thursday as investors waited to see if a gloomier economic outlook would prompt the European Central Bank to hint at further stimulus measures at a policy meeting. Fears in the debt market that the deepening euro zone recession and a two-notch downgrade would hit Spain's ability to fund itself eased after the government sold new three- and five-year debt although its borrowing costs rose sharply. But the spotlight is on the world's major central banks after surprisingly weak economic data from the United States and across the European Monetary Union (EMU) rekindled concerns about the strength of the global economic recovery. “Given the recent weakness in the EMU economy indicators, we suspect the ECB will leave the door open for further action, should the economic scenario deteriorate further,” Newedge strategist Annalisa Piazza said. Hopes that central banks may be stirred into action helped lift bank shares, pushing the FTSEurofirst 300 index of top European shares up 0.6 percent to 1,049.52 points. US stock index futures pointed to a higher open on Wall Street.
