LONDON — Asian stocks surged, Europe extended its gains and Wall Street was poised to rally once more Wednesday amid a growing belief that the worst of the credit crisis is over.
In Europe, share prices rose for banks such as UBS, which announced it was issuing new shares to help bolster its balance sheet after another massive write-down linked to bad U.S. mortgages. But automakers lagged on weak U.S. sales data for March, as well as a broker downgrade for Daimler.
In the U.K., the FTSE 100 rose 0.22 percent at 5,865.30, while Germany's DAX gained 0.65 percent at 6,763.77. France's CAC 40 climbed 0.68 percent to 4899.16.
Shares of UBS rose 3.27 percent, while Barclays PLC jumped 3.39 percent and Royal Bank of Scotland added 2.84 percent.
In Tokyo the Nikkei 225 index rose 4.2 percent to 13,189.4. Hong Kong's Hang Seng Index climbed 3.2 percent to 23,872.4.
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