European Stocks Rally After Central Banks Ease Dollar Funding
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European stocks jumped, posting their biggest four-day rally since November 2008, as the Federal Reserve and five other central banks lowered the cost of dollar funding and China cut its reserve ratio for banks.
Barclays Plc and Deutsche Bank AG rallied. BHP Billiton Ltd., the world’s biggest mining company, paced gains in commodity shares. BP Plc, Europe’s second-largest oil company, rose the most in two months.