LONDON Feb 27 European shares opened up on
Wednesday, clawing back some of the previous session's sharp
losses, helped by the U.S. Federal Reserve's defence of its
asset-buying programme, though jitters over the euro zone might
Fed Chairman Ben Bernanke strongly defended the U.S. central
bank's monetary stimulus on Tuesday, which eased worries over a
possible early retreat from bond purchases, and made for a
firmer close on Wall Street.
The FTSEurofirst 300 was up 0.3 percent at 1,153.80
points by 0803 GMT, buoyed by banks, which were big
fallers on Tuesday when the broader index dropped 1.4 percent
after an Italian election stalemate revived worries about the
future of the euro zone.
"After the Italian election results it seems that rallies
might well be sold from here on," said Lex van Dam, hedge fund
manager at Hampstead Capital, which manages around $500 million