On a thin day for economic and earnings related news European stock markets rose, with London indices leading the way after the FTSE 100 rose by around 0.36% to close at 6,941.19 and the mid-cap FTSE 250 ended at 17,929.27 gaining 0.04%. France's Cac 40 closed 0.05% lower at 4,497.86 and Germany's Dax closed at 10,739.21 0.24% higher.
Oil surged throughout the European trading day. The West Texas Intermediate was recently 2.63% up at $45.66 and Brent Crude had gained 2.55% to $48.17 a barrel.
The FTSE 100 saw Paddy Power Betfair (PDYPF) rise by 0.45% after competitor William Hill (WIMHF) rejected another bid from a duo led by competitor 888 Holdings (EIHDF) . Such a tie up could eventually threaten the dominance of the recently consummated Betfair and Paddy Power alliance.
Entertainment One shares rose by more than 6% after reports emerged that private equity firm, KKR (KKR) - Get KKR & Co. Inc. Class A Report , was considering making a bid for the company, which owns the Peppa Pig brand. Entertainment One rejected a bid from ITV (ITVPF) , a U.K.-based broadcaster last week for undervaluing the company.
Sophos and Paysafe were both buoyant throughout the day given earlier reports that enterprise software firm Sage Plc (SGGEF) was subject to a data breach, which could have exposed some of its customer data. The news brings cyber security back into focus.
Elsewhere, in Europe, France's Cac 40 fell by around 0.05%, despite strong performances from Peugeot (PEUGF) and ArcelorMittal (MT) - Get ArcelorMittal SA ADR Report . Peugeot shares rose in what was a generally strong day for European automakers. ArcelorMittal stock rose on news that the European Union could soon take further action against Chinese steel producers by raising anti-dumping duties.
In Germany, BMW (BMWYY) and Infineon Technologies (IFNNY) helped to push the DAX index higher by around 0.24%. This is while, in Spain, the Ibex closed a fraction higher on a solid performance from Repsol (REPYY)