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Market Update

European Shares Jump After Euro Deal

Stocks in Europe soared in early trade Thursday, after Euro-zone leaders struck a deal, which includes an agreement for private Greek bond-holders to take a 50% loss, and outlined other steps to tackle the region's debt crisis.

At the time of writing, Britain's FTSE was up 1.7%, while France's CAC and Germany's DAX climbed 3.3% each.

Equities advanced globally, along with commodities, after European leaders meeting at a summit agreed to bolster the Euro-zone financial bailout fund and struck a deal to reduce Greece's debt burden by asking private lenders to take a 50% haircut on Greek bonds.

Bank shares, which have been hit hard during the recent uncertainty during the debt crisis, topped the gainers' list. BNP Paribas, Credit Agricole, Deutsche Bank and Societe Generale surged between 7.6% and 9.2%.

In London, miners BHP Billiton, Rio Tinto, Xstrata and Anglo American rose 3.1% to 5.3% tracking strength in metal futures.

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