BUZZ-European banks rally after ECB rate cut

** European banking sector best performers in Europe, up 3.3 pct, a day after the European Central Bank cut rates

** ECB also said it would expand its asset buying program to 80 bln euro per month from 60 bln euro per month

** Shares (Berlin: DI6.BE - news) rose on Thursday after ECB announced cuts, but reversed course after President Mario Draghi said more rate cuts were unlikely

** Banks at the top of the Stoxx 600: Banco Popular +7 pct, Unicredit (EUREX: DE000A163206.EX - news) and Intesa Sanpaolo (Amsterdam: IO6.AS - news) +6 pct

** Santander, BNP Paribas (LSE: 0HB5.L - news) , ING biggest lifts to banking index

** Barclays (LSE: BARC.L - news) , Royal Bank of Scotland (LSE: RBS.L - news) , Standard Chartered (HKSE: 2888.HK - news) up 3-3.7 pct, near the top of the FTSE 100

** Stoxx 600 Banks trading above its 50-day SMA, first breached on Thursday (venkateshasoumithri.mamidipudi.thomsonreuters.com@reuters.net)