The stock markets across Europe advanced, tracking the rally on Wall Street and oil price strength. At the time of writing, the pan-European Euro Stoxx 50 index was up 2.4%. Germany’s DAX was up 2.47%, while UK’s FTSE was up 1.35%. France’s CAC was trading higher by 2.2%. Shares in Royal Bank of Scotland tumbled 10% following disappointing results. The bank reported a full-year loss of $2.76 billion. Denmark's Erste Bank was up over 2% after the lender reported better-than-expected fourth-quarter. Commodity stocks like Glencore and steelmaker Arcelormittal rallied after Chinese policymakers said the economy is still in a good shape. The investors now await the US preliminary Q4 GDP data and personal spending report. For more information, read our latest forex news.