European shares ended the day up 2.84 percent, rebounding from their six-year lows and ending a four-day losing streak.
One analyst called it a frail attempt of a bear market rally and said if the markets go into the weekend on a positive note it is possible the gains could continue next week. The financial sector was the session’s top gainer as the British government extended guarantees on bank assets. Royal Bank of Scotland which is the biggest beneficiary in the UK jumped over 25 percent. UBS, Deutsche Bank, BNP Paribas and Societe Generale all gained. Energy companies benefited as crude oil rose to its highest price in a month.