European Bank Stocks Jump After EU Summit Eases Debt Concern

European bank stocks jumped after leaders agreed to bolster lenders’ capital and boost the region’s rescue fund in a bid to stem the debt crisis.

France’s Societe Generale SA, Credit Agricole SA and Britain’s Barclays Plc led the 46-member Bloomberg Europe Banks and Financial Services Index 8.8 percent higher in London. Societe Generale jumped 23 percent and Credit Agricole 22 percent. Barclays climbed 18 percent, BNP Paribas SA 17 percent and Deutsche Bank AG, Germany’s largest lender, 16 percent.