European equities rose sharply on Friday, adding to gains made in the previous session on ECB stimulus hints, with bouncing commodities prices boosting energy and mining stocks, Reuters reported. By 0908 GMT, the pan-European FTSEurofirst 300 was up 2.5 percent at 1,326.82 points. The index gained 2.1 percent on Thursday after European Central Bank head Mario Draghi said financial markets turmoil and concerns over China will prompt a March review of the bank's monetary policy. In spite of the gains the FTSEurofirst 300 is down more than 7 percent since the start of the year and some investors remained cautious saying the rebound could be short-lived. Oil stocks were the top sectoral gainer, up 4.4 percent, after a rally brought crude prices back above the key $30 mark, as cold weather as well as firmer financial markets gave traders reason to cash in on record short positions. Shares in oil majors Total, Royal Dutch Shell and Eni were up between 3 percent and 5 percent. Shares in Saipem added 1.3 percent after the Italian oil services group priced a 3.5 billion euros cash call at a steep discount, as expected. Miners were the also among the top gains, up 3.6 percent, as metal prices rose. Delhaize also rose, by 1.6 percent, on solid results. German software maker SAP fell 0.6 percent giving up earlier gains as some brokers said its new 2017 target was no big surprise.
