The FTSE 100 in London added 75 points, or 1.25 per cent, to reach 6,157.10 as major telecom shares outweighed losses in commodity-based stocks.
The Xetra Dax in Frankfurt climbed 1.2 per cent to 7,679.92 and the CAC 40 in Paris was 1.6 per cent higher at 6,059.49, after falling as much as 0.5 per cent in early trade. The AEX in Amsterdam and the SMI in Zurich both gained 1.2 per cent.
The FTSE Eurotop 300, a broader index of the region's largest stocks, gained 1.1 per cent to 1,549, lifted by a 3.3 per cent rise in its telecom segment and a 2 per cent advance in technology shares.
Trading volumes were thin in Toronto as U.S. stock markets were closed in observance of the President's Day holiday.
The majority of sectors making up the TSE 300 were gainers, yet the index ended down as market heavyweights Nortel Networks and BCE continued Friday's trend and lost ground.
And with the American markets closed, not a lot was read into today's rather quiet market action.
When things return to normal on Tuesday, the morning session might provide some fireworks. The day after options expire is active as options holders are issued their execution orders.
There is the usual exchange between call writers, those that promised to sell their shares at a set price in return for a premium, and call buyers, individuals who bought the promissory contract for that premium. This is usually orderly.
The fun begins when some call buyers gauge the morning action of their respective stock and start selling if the stock is down. If the activity on Friday carries through tomorrow, then we could be exposed to some heavy selling.
