LONDON, June 5 (Reuters) - German and French stocks were set to rise on Tuesday, mirroring gains in Asia on hopes that emergency talks between the Group of Seven finance chiefs could yield new measures for tackling the euro zone crisis.
Investors are also hoping that the economic turmoil in Europe and disappointing U.S. data could prompt the European Central Bank and the Federal Reserve to announce some stimulus measures.
But trade is likely to be choppy in relatively lower trading volumes as the UK market is closed for a holiday.
Financial spreadbetters predicted Germany's DAX to open 22 to 26 points - or as much as 0.4 percent - higher, and France's CAC-40 to gain 13 to 16 points, or as much as 0.5 percent.
One analyst cautioned against expecting much from the G7 telephone conference.
"Merely a 'phone hook-up', such meetings have nearly always over-promised and under-delivered, and at this stage there is no reason to believe today's get-together will be any different. That said, markets will be all ears for any hint of a coordinated response/solution," Cameron Peacock, analyst at IG Markets, said in a market note.
With Greece, Ireland and Portugal under bailout programmes, markets are concerned that Spain, mired in a banking crisis, could follow suit, and that a June 17 election could pave the way for Greece to leave the euro zone.
MARKET SNAPSHOT AT 534 GMT
LAST PCT CHG NET CHG
S&P 500 1,278.18 0.01 % 0.14
NIKKEI 8,384.83 1.08 % 89.2
MSCI ASIA EX-JP 1.1 % 4.97
EUR/USD 1.2516 0.18 % 0.0022
USD/JPY 78.34 0.01 % 0.0100
10-YR US TSY YLD 1.549 -- 0.03
10-YR BUND YLD 1.217 -- -0.01
SPOT GOLD $1,618.40 -0.02 % -$0.35
US CRUDE $84.70 0.86 % 0.72
* Euro extends rebound as bears trim bets ahead of G7 call
* Markets rebound, hoping for action on euro zone crisis
* Nikkei set to end 4-day losing run on G7 emergency talks
* S&P 500 ends flat but Europe, U.S. data still drag
* Brent crude rebounds above $99 on dollar, G7 talks
* Gold ticks up ahead of G7 emergency talks
* Shanghai copper up on hopes of G7 action for euro zone (Reporting by Atul Prakash; Editing by John Stonestreet)