Banks move higher in morning trading, oil producers also advance European shares rose for the first time in four sessions on Friday, as banks advanced and an uptick in crude-oil futures helped oil producers to climb. The pan-European Dow Jones Stoxx 600 index climbed 1.3% to 193.06, although the index is still down almost 3% on the week . Banks were among the strongest performers on Friday, as shares of HSBC Holdings advanced 2.4%, shares of Societe Generale rose 1.7%, Credit Suisse shares climbed 2.8% and Deutsche Bank shares advanced 1.5%. A program that would subsidize mortgage payments for troubled homeowners subject to an affordability test is being considered by the Obama administration, according to a media report. See full story. Back in Europe, airline Air France-KLM climbed 6.6%. It's still targeting a positive operating result for fiscal 2009 but said the level will depend on economic developments. It swung to a loss of 505 million euros in its fiscal third quarter. A year ago, the firm posted a profit of 139 million euros in the quarter. Revenue fell 0.1% to 5.97 billion euros. "Activity in the third quarter reflected the increasing severity of the economic downturn," the airline said. Shares of French alcoholic drinks maker Pernod Ricard rose 9.1% after its first-half net profit rose 5% to 615 million euros, with sales up 13% to 4.2 billion euros. The company confirmed its fiscal-year recurring net profit guidance, which it said should exceed 1 billion euros for the first time. Shares of the London Stock Exchange climbed 4.3%. It announced that Xavier Rolet will replace Clara Furse as chief executive on May 20.

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