Europe: Shares sharply higher, commodities stocks lead

[MILAN] European equities rose sharply on Friday, adding to gains made in the previous session on European Central Bank stimulus hints, with bouncing commodities prices boosting energy and mining stocks.

By 0810 GMT, the pan-European FTSEurofirst 300 was up 1.9 per cent at 1,318.99 points.

The index gained 2.1 per cent on Thursday after ECB head Mario Draghi said financial markets turmoil and concerns over China will prompt a March review of the bank's monetary policy.

Oil stocks and miners were the top sectoral gainers with a rise of 4.1 per cent and 3.2 per cent respectively.

Philips fell 0.9 per cent after a US$3.3 billion deal to sell its components business to a consortium of Asian buyers broke down over US national security objections.

REUTERS