European shares rose on Thursday for the seventh straight day and is approaching its highest level in five weeks, after a key auction of bonds in Spain dilute worries about the debt crisis in the euro zone and boost banks' roles .
The index of pan-European FTSEurofirst 300 was up 0.7 percent to 1046.95 points.
Shares in BP jumped 7.7 percent after saying it would establish a fund of 20,000 million dollars for the damage of the spill in the Gulf of Mexico, sell assets and pay dividends deleted, thus eliminating the uncertainties about the size of the fund.
BP shares have fallen 45 percent since it began in mid-April release.
Spain has placed at mid-morning almost 3,500 million euros (4,300 billion) of debt to 10 and 30 years that was aimed at an auction that analysts said was well despite the Spanish Treasury has had to raise the cost.
The roles of the Spanish banks Santander and BBVA rose 1.3 and 1.4 percent respectively. For its part, shares of financial groups Lloyds and Barclays advanced between 3 and 4 per cent.
Meanwhile the British finance minister, George Osborne, said the biggest change the regulatory landscape in 13 years on Wednesday, the Bank of England to give ultimate control of financial supervision.
Spanish Economy Minister, Elena Salgado, said Spain will publish the results of resistance testing bank by bank and may use at most 30 000 million euros from a bank restructuring fund to meet the needs of banks.
"We have seen some decisions of the European political, although problems will not disappear, there is the impression they will do something," said David Buik, senior partner
BGC.
UBS shares rose 1.9 percent after the Swiss Parliament gave its backing to a Swiss-US tax treaty crucial for the future of the bank.
Throughout Europe, Britain's FTSE 100 rose 1 percent, Germany's DAX gained 0.6 percent and France's CAC 40 was up 1 percent.
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