European shares bounced on Monday after their worst week in two months, as investors hoped for a gradual economic recovery with many countries easing coronavirus-led lockdowns.
Energy majors Total SA, BP Plc and Royal Dutch Shell Plc rose nearly 6%, leading market gains as oil prices climbed by more than $1 a barrel, supported by output cuts and signs of gradual demand recovery.
France's Total was also boosted by news that it called off plans to acquire Occidental Petroleum Corp's assets in Ghana, and agreed to buy up assets from Energías de Portugal.
The pan-European STOXX 600 rose 2%, with bourses in Frankfurt, Paris and London also rising more than 2%.
French automakers Renault SA and Peugeot SA gained 3.2% and 2.8%, respectively, after finance minister Bruno Le Maire told a local radio channel the government was hoping to announce a plan within 15 days to help the country's automobile sector.
German conglomerate Thyssenkrupp AG jumped 4.5% after a source told Reuters it was in talks with international peers about consolidating its loss-making steel business.
Fiat Chrysler Automobiles NV jumped 4.1% after confirming its Italian unit was working with Rome to obtain state guarantees on a 6.3-billion-euro ($6.8 billion) loan facility.
Swedish radiation therapy gear maker Elekta surged 11.2% to the top of STOXX 600 after it won an order worth around $200 million and was set to exceed its target for bookings of its new radiation system Unity.
Among decliners, Norwegian Air Shuttle ASA's shares tumbled 15.7% as the company said its issue of new equity was completed.
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