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Europe share markets open higher European share markets open higher
(40 minutes later)
  
European markets have bounced back again after Asian markets steadied overnight. European markets have rebounded in early trade after Asian markets steadied overnight.
Most major markets are between 2% and 3% higher, with London's FTSE 100 share index gaining 2.22%. In London, the FTSE 100 index was up by 1.85%, Germany's Dax index was 2.2% higher and the Cac 40 in France rose 2.1%.
Earlier, Asian shares were mixed, with fears about the European debt crisis still preying on investors' minds. French banking shares were among the biggest gainers, with Societe Generale shares up 6%.
Fears about the financial stability of France and its banks were a key trigger for Wednesday's steep falls.
Rumours had swept the market that France was about to lose its AAA credit rating, and that Societe Generale was in line for a government bailout.
Denials came from both the French Treasury and Societe Generale, whose chief executive, Frederic Oudea, said the rumours were "absolutely rubbish" in an interview with CNBC television after the market closed.
Mr Oudea also spoke to France Info radio. "People are scared," he said, "so the tiniest information touches off irrational fears. To our clients, we have to tell them that these rumours are baseless and that they can have confidence in Societe Generale."
Earlier on Thursday, Asian shares were mixed, with fears about the European debt crisis still preying on investors' minds.
Asian stocks pulled back from initial steep falls, with Japan's Nikkei 225 index recovering from an opening fall of 1.8% to close 0.63% lower.Asian stocks pulled back from initial steep falls, with Japan's Nikkei 225 index recovering from an opening fall of 1.8% to close 0.63% lower.
Hong Kong's Hang Seng was down 0.6% - again after an earlier, larger fall.Hong Kong's Hang Seng was down 0.6% - again after an earlier, larger fall.
South Korea's Kospi was up 0.62%, after dropping close to 4%. And Australia's ASX index also recouped earlier losses. South Korea's Kospi was up 0.62%, after earlier dropping by nearly 4%. Australia's ASX index also recouped earlier losses.
On Wall Street, late on Wednesday, the Dow Jones Industrial Average lost 4.6%, or 520.29 points to close at 10,719.48 in its fifth straight day with a rise or fall of more than 400 points. On Wall Street on Wednesday, the Dow Jones Industrial Average lost 520.29 points, or 4.6%, to close at 10,719.48. The index has now risen or fallen by more than 400 points for five trading sessions in a row.
Worries over France's credit rating and the strength of its banks were a key trigger for Wednesday's falls.
While ratings agencies Moody's, Standard & Poor's and Fitch reaffirmed France's AAA credit rating, analysts said investors remained sceptical about the country's financial health and the stability of its banking sector.
"I think there's concern about just how much Greek debt French banks really do hold and how much the European Central Bank is willing to backstop all this," said Bret Barker of TCW.