LONDON (Reuters)- Brent crude oil rose more than $1 per barrel to above $110 on Friday on optimism that summits of European leaders over the next few days could agree a solution to the euro zones debt crisis. France and Germany said European leaders would examine in detail a global solution to the crisis on Sunday and aim to adopt a plan on Wednesday at the latest. Stocks bounced after Paris and Berlin said a comprehensive euro zone debt deal was on its way, although a fragile euro and strong bund futures suggested not everyone was convinced. The long-running saga was meant to be concluded at a meeting of regional leaders over the weekend, but disagreement over the make-up of the sovereign rescue fund stalled talks. By 1200 GMT, the benchmark December Brent crude contract was trading around $110.60 per barrel, 84 cents higher, having hit an intraday high of $110.93, up $1.17. U.S. light crude oil futures were up $1.20 at $87.27, having earlier hit a high of $87.45. There is renewed hope that European leaders will pull something out of the bag and manage to come up with a solution to the debt crisis, said Daniel Briesemann, commodity analyst at Commerzbank in Frankfurt. Conversion rates KARACHI (APP) The following rates will be applicable for conversion into rupees of Foreign Currency Deposits, Dollar Bearer Certificates, Foreign Currency Bearer Certificates, Special U.S. Dollar Bonds and profits thereon by all banks and for providing Forward Cover on Foreign Currency Deposits (excluding F.E.25 deposits) by the State Bank on October 24, 2011. The rates are U.S. Dollar Rs 86.7277, Japanese Yen Rs 1.1303, Pound Sterling Rs 137.0645 and Euro Rs 119.5281