(Reuters) – European shares resumed their rally on Friday as a bumper stimulus from the European Central Bank fuelled hopes of a faster economic recovery, putting the main benchmarks on course for their best week in two months.
The pan-European STOXX 600 <.STOXX> gained 1.2% by 0722 GMT, led by a 3% jump in bank stocks <.SX7P>. Insurers <.SXIP>, automakers <.SXAP> and travel stocks <.SXTP> also rose more than 2%.
Global equity markets have climbed strongly this week, with Wall Street indexes nearing record levels as investors focussed on re-opening of economies.
The STOXX 600 is about 15% below all-time highs, but has recovered more than 37% from March lows as fresh stimulus plans for Europe spurred a move into economically sensitive cyclical sectors.
British Airways owner-IAG
(Reporting by Sruthi Shankar in Bengaluru; Editing by Arun Koyyur)
