European shares ended the session up over three percent led by banks and drugmakers.
Barclays rose on saying its trading performance “continues to be strong” after it declined to take part in a government asset protection scheme. It is also in exclusive talks to sell its iShares asset management unit to CVC Partners. British retailer Marks & Spencer climbed 11.9 percent due to a smaller than expected fall in fourth quarter sales. Carmakers are lower, except FIAT which rose 10.3 percent on news it had reached a global alliance agreement with Chrysler. Mining companies gained on stronger metals prices. Oil slipped slightly after the latest data showed US home prices were sharply down in January underlining the depth of the recession in the world’s top energy consumer.