European shares are set to open slightly higher as focus turns again on Spain. Bond Yields are soaring and concern over the country’s banking system stability is increasing. Spanish banks are trying to clean their balance sheets from soured property loans exposure. In Europe, investors also await the results of bond auctions in Italy and France.
In Asia, stocks are trading higher on the news that policy makers pledged new spending to boost economic growth. Crude oil rose 0.5% in New York.
Yesterday, US markets were closed to celebrate Memorial Day.