Europe is up for the second day

[Italkcash Newsfeed]

European shares rallied again on Tuesday, building on the previous session's sharp gains, as efforts to rescue distressed banks gathered pace around the globe.

The Dow Jones Stoxx 600 index jumped 4.3% to 234.92 points, helped by strong gains for oil and bank stocks.
BP shares jumped 8.3% as crude futures advanced $2.20 to $83.39 a barrel, while lender Societe Generale jumped 12.1% after it stated that it expects to report a third-quarter profit.

The firm also reiterated that it hasn't experienced significant structured-products losses, helping the shares take back some of the previous day's losses.
The rest of the banking sector advanced as global efforts to rescue the international banking system gathered force late Monday.
Details began leaking out about the U.S. Treasury Department's effort to distribute funds to top banks in exchange for ownership stakes. Industry officials confirmed that Treasury outlined a plan to inject $250 billion of the government's $700 billion rescue plan into U.S. banks. Read more on plan.
Shares in Swiss lender UBS rose 5.8%,while shares in Germany's Deutsche Bank climbed 7.6%.

Overall, the U.K. FTSE 100 index rose 4.2% to 4,435.73, the German DAX 30 index advanced 3.7% to 5,250.86 and the French CAC-40 climbed 4.6% to 3,693.32.

The companies said "that economic and capital market conditions have made it increasingly difficult to conclude strategic partnerships on this scale." News Corp. also owns MarketWatch, the publisher of this report.

The Doc

Source: Marketwatch.com