LONDON (AFP) – European stock markets surged in early trading on Monday, lifted by banking shares after British banking titan HSBC announced soaring half-year profits.
London's FTSE-100 index rallied 1.96 percent to 5,361.58 points, as HSBC's share price jumped 4.46 percent to 674.8 pence. The benchmark index was also pushed sharply higher by strong gains for miners.
In Paris the CAC 40 index of leading shares shot 1.99 percent higher to 3,715.58 points and in Frankfurt the DAX 30 won 1.63 percent to 6,246.14 points.
HSBC said on Monday that its net profits more than doubled to 6.76 billion dollars (5.17 billion euros) in the first half of 2010 as bad debt charges were slashed.