Debt Hopes Continue to Lift European Stock ETFs, Euro | ETF Trends

Exchange traded funds that track European stocks and the euro were set to extend their rally Wednesday on expectations leaders will come up with a solution to the debt crisis at a summit later this month.

After initially voting against an expansion of the European bailout fund, Slovakia will hold talks to reach a deal on a plan to bolster the European Financial Stability Facility, and a new vote could be held as soon as Thursday, Reuters reported. [Europe ETFs Recover on Easing Pessimism]

“Equity markets are still giving Eurozone leaders the benefit of the doubt in their efforts to stem the crisis,” Nicholas Spiro, managing director at Spiro Sovereign Strategy, told Bloomberg. “A greater sense of urgency should not be mistaken for measures to tackle the sovereign debt crisis head-on.”

CurrencyShares Euro Trust (NYSEArca: FXE) was up nearly 1% in premarket trading Wednesday. [Dollar ETF Cools After Spike]

CurrencyShares Euro Trust

The opinions and forecasts expressed herein are solely those of John Spence, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.