LONDON (AP) - The Latest on global financial markets (all times local):
LONDON (AP) — The Latest on global financial markets (all times local):
European stock markets are being led higher by mining and bank stocks, particularly Credit Agricole, which announced a restructuring program.
France's CAC 40 index was up 1.6 percent, with Credit Agricole jumping 11.5 percent after the bank reported a rise in fourth quarter net profit and said it would strengthen its finances by reducing its exposure to regional banks.
Shares in Spanish lender Bankia were up 4.5 percent after it said it will pay back thousands of small shareholders the money they invested in the bank when it was floated in 2011, a year before it had to be bailed out. The bank will make a provision of 1.8 billion euros ($2 billion) for the costs, but the move decreases uncertainty over its legal exposure.
Elsewhere, Germany's DAX was up 1.5 percent while Britain's FTSE 100 rose 1.3 percent, helped by an 8.6 percent rise in commodities producer Glencore plc.