Asian stocks and oil prices hit record highs on Thursday as a Federal Reserve rate cut and strong growth data eased concerns about the impact of a housing slump on the U.S. economy.

European stocks were poised to track Asia and a firm Wall Street. London financial bookmakers, or spread betters, see Britain’s FTSE 100 index opening up to 10 points higher, the German DAX up to 18 points firmer and the French CAC 40 as much as 9 points higher.