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European banks explode higher at the open on news of the agreement to recapitalize the...

European banks explode higher at the open on news of the agreement to recapitalize the region’s banks. Deutsche Bank (DB) +15.4%, Barclays (BCS) +16.4%, Royal Bank of Scotland (RBS) +12% lead the way as shorts run for the hills. U.S. banks (XLF +4.6%) ride the momentum: BAC +6.4%, JPM +7.7%, C +8.5%, MS +11%, GS +6.3%.
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