European Shares Jump Most in 17 Months as EU Pledges Loan Fund
This article is for subscribers only.
European stocks rallied the most in more than 17 months after policy makers unveiled an unprecedented loan package worth almost $1 trillion to contain the region’s sovereign-debt crisis.
BNP Paribas SA, France’s largest bank, surged 21 percent as the nation’s CAC 40 soared 9.7 percent. Banco Santander SA jumped 23 percent, leading Spain’s IBEX 35 index 14 percent higher for the biggest gain on record. BHP Billiton Ltd., the world’s largest mining company, and Rio Tinto Group climbed more than 6 percent as copper increased.