European stock markets close up sharply

March 12, 2016

0,,18318418_303,00European shares bounced back on Friday, with a recovery in metal and oil prices boosting commodities and the ECB’s expanded cheap funding plan supporting lenders particularly in the eurozone periphery. “The recovery in market sentiment suggests markets may be coming round to a positive view [on the ECB’s move], with the ugly indigestion finally subsiding,” Accendo Markets’ Mike van Dulken told Reuters. Banking stocks lifted Britain’s FTSE-100, although they underperformed leading eurozone shares favored by investors as the main beneficiaries of the ECB’s fresh stimulus measures. The index was up by 1.7 percent, recovering from Thursday’s two-week low.

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