A rebound in banks transformed Europe’s laggards into leaders. Stocks in Greece, Spain and Italy jumped more than 7 percent this month through Friday, compared with a 2.5 percent advance for the Stoxx Europe 600 Index. Concern over slowing global growth and the effect of low rates on lenders’ profits eased, and the European Central Bank unveiled an expanded stimulus package while signaling an end to interest-rate cuts.

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