Europeans shares rise on recovery hopes

European shares closed higher on Monday as investors become more confident about the prospects for recovery. Financials, boosted by broker upgrades led the way, and energy stocks also gained on the back of rising crude prices.

BNP Paribas, Banco Santander and Barclays were between 2.5 and 4 percent higher.

The pan-European FTSEurofirst 300 index of top shares provisionally closed up 1.7 percent after falling nearly 2 percent last week.

The European benchmark index was up more than 33 percent from its lifetime low of March 9.

The main markets, The FTSE 100, Germany’s Dax and France’s CAC 40, all finished up.

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tags: Europe, Markets