US and European equities rallied at the end of a turbulent week dominated by fears about the financial sector as central banks take extreme measures to boost global growth.
The pan-European Stoxx 600, which lost 6.8 per cent over the previous four sessions, closed up 2.9 per cent as Commerzbank led a banking sector rebound with an 18 per cent surge after the German lender restored its dividend.
On Wall Street, the S&P 500, which closed on Thursday at a 22-month low, gained almost 2 per cent, supported by data showing that the US consumer does not appear to have been fazed by recent market turmoil.
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