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European shares gain as bank sell-off abates, oil rebounds

European shares rose Friday, shrugging off a bad day in Asia, as the sell-off in banking shares abated and oil prices rebounded from a 12-year low. But Japan's main stock index lost nearly 5 percent, leading other Asian markets lower.

In early trading, Germany's DAX was up 1.3 percent at 8,863.25 and Britain's FTSE 100 leapt 1.3 percent to 5,611.99. France's CAC 40 advanced 1.3 percent to 3,948.44. Wall Street was set to snap its losing streak. Dow futures rose 0.8 percent to 15,737.00 and S&P 500 futures added 1 percent to 1,842.20.

Shares in Germany's Commerzbank AG jumped 11 percent after it reported strong gains in fourth quarter net profit and forecast further gains...