Banks top gainers as European shares bounce back

viernes 11 de marzo de 2016 11:56 GYT

* FTSEurofirst 300 index gains 2.4 percent

* Euro zone banking stocks rise sharply

* Mining, energy stocks track commodities prices (Updates prices, adds details)

By Atul Prakash

LONDON, March 11 (Reuters) - European shares bounced back on Friday, with a recovery in metal and oil prices boosting commodities stocks and the European Central Bank's new cheap funding plan supporting lenders in the euro zone periphery.

The pan-European FTSEurofirst 300 index was up 2.4 percent to 1,342.42 points by 1527 GMT, after falling 1.8 percent in the previous session.

The banking stocks index was up 4.1 percent, the top sectoral gainer, after choppy moves on Thursday when the ECB cut rates and said it would start buying corporate debt and even pay banks that lent to companies in an attempt to kickstart growth.

Lenders like Banco Popular and Bankia of Spain and Italy's UniCredit and Intesa Sanpaolo jumped 7 to 11 percent.

The broader European stock market fell in the previous session and the euro rose after ECB President Mario Draghi said more rate cuts were unlikely, but bank shares outperformed on plans for a new round of cheap funding.   Continuación...