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

European stocks 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.

Germany's DAX was up 1.4 percent at 8,873.93 and Britain's FTSE 100 rose 1.7 percent to 5,631.27. France's CAC 40 advanced 1.1 percent to 3,940.58. Wall Street was set to snap its losing streak. Dow futures rose 0.6 percent and S&P 500 futures added 0.8 percent.

Shares in Germany's Commerzbank AG jumped 17 percent after it announced its first dividend since 2007 and upbeat earnings. That helped push financial stocks higher across the board,...