BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - French stocks rallied on Friday after the European Central Bank increased its Pandemic Emergency Purchase program by a further 600 billion euros ($676 billion) to support funding conditions in the real economy, especially for businesses and households. Markets were expecting a 500 billion euros increase.
The benchmark CAC 40 jumped 103 points, or 2.1 percent, to 5,115 after closing down 0.2 percent the previous day.
Banks led the surge, with BNP Paribas, Credit Agricole and Societe Generale climbing 5-7 percent.
Trade-sensitive automakers were also moving higher. Renault surged 7.8 percent and Peugeot gained 6 percent.
Oil & gas company Total SA gained 3.2 percent after reports that OPEC+ leaders Russia and Saudi Arabia have clinched a tentative deal to extend record production curbs for another month until the end of July.
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