Europe shares to jump on Berlusconi's plan to quit

LONDON: European shares were set to jump on Wednesday as Italian Prime Minister Silvio Berlusconi's pledge to resign after failing to secure majority in a crucial vote revived hopes a new leader would more aggressively tackle the country's debt problems.

Concerns about the Berlusconi government's ability to implement reforms to boost Italy's sluggish growth and cut its huge debt have resulted in a sharp rise in Italy's borrowing costs towards unsustainable levels.

Financial spreadbetters predicted Britain's FTSE 100 to open 63 to 64 points higher, or as much as 1.2 percent, Germany's DAX to gain 98 to 102 points, or as much as 1.7 percent, and France's CAC-40 to open 33 to 35 points stronger, or as much as 1.1 percent.