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.

TheStreet Recommends

The FTSE 250 pushed higher, led by perennial bid target Entertainment One (ENTMF) and supported by gains at cybersecurity and payment security firms, Sophos Group Plc (SPHHF) and Paysafe (NVAFF) .

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)