Global markets boosted by ECB stimulus plan

European and Asian stocks zoomed higher Friday as markets were energized for a second day by the European Central Bank's bolder-than-expected stimulus plan.

France's CAC 40 jumped 1.96 percent to 4,642.8 and Germany's DAX rose 1.77 percent to 10,620. Britain's FTSE 100 added 1.02 percent to 6,796.6. U.S. shares were also set to rise. Dow futures were up 0.2 percent, while S&P 500 futures gained 0.1 percent.

Europe's ailing economy will get a major dose of stimulus from the European Central Bank's bond-buying program designed to make loans and exports cheaper so companies can hire and expand. Starting in March, the ECB will buy 60 billion euros ($68 billion) of government and corporate bonds each month at least through September 2016. The 1.1 trillion euro program was an emphatic signal of the ECB's willingness to do all it can to rejuvenate the economies in the 19-nation euro currency alliance.

"The European Central Bank has set the ticker boards alight across the globe with investors responding favorably to another central bank deploying more stimulus," IG strategist Stan Shamu said in a market commentary. "The next key event for markets will be the Greek elections which are set to take place this weekend. Polls continue to show Syriza in the lead but markets seem unfazed at the moment."

One dampener to the global growth optimism came from China. An HSBC report Friday said China's manufacturing shrank for a second month in January, largely because of weak demand. Earlier in the week, official Chinese data showed the world's second-biggest economy expanded 7.4 percent last year, the slowest pace since 1990.

Japan's Nikkei 225 rose 1.1 percent to close at 17,511.75 and Hong Kong's Hang Seng added 1.3 percent to 24,850.45. South Korea's Kospi gained 0.8 percent to 1,936.09. Australia's S&P/ASX 200 jumped 1.5 percent to 5,501.80. Markets in Taiwan, India and Southeast Asia also rose.

Benchmark U.S. crude was up 8 cents to $46.39 a barrel, falling back after earlier gaining 89 cents in a kneejerk reaction to news that Saudi Arabia's King Abdullah died. Analysts say the king's death is unlikely to change Saudi's high oil-production levels, a key factor in the collapse in oil prices in the past six months. On Thursday, the contract fell $1.47 to close at $46.31 a barrel in New York. Brent crude was up $1.16 to $49.68 a barrel on the ICE exchange in London.

The dollar fell slightly to 117.93 yen from 118.56 yen the previous day. The euro, which fell on the ECB announcement to its lowest since September 2003, was down to $1.116 from $1.1356.