LONDON ( The Deal) -- European markets rebounded on Monday, as news of a series of pharma industry deals seemed to indicate a renewal of confidence after last week's falls.

London was something of a laggard compared with other major European exchanges with a rise of just 0.58% to 6,536. Frankfurt was up 1.64% at 9,806, while in Paris, the CAC 40 was up 1.53% at 4,243. In Madrid, the IBEX 35 was up 1.6% at 9,874.

Swiss pharma company Roche (RHHBY) rose 1.53% after agreeing to pay $1.03 billion for up to 56.3% of Cambridge, Mass.-based cancer specialist Foundation Medicine (FMI) - Get Report. But Ireland's Shire (SHPG) - Get Report  -- fresh from the break-up of its $49 billion deal with Chicago's AbbVie (ABBV) - Get Report -- slid 0.3% to 4,727 pence in London after agreeing to buy rare disease specialist NPS Pharmaceuticals (NPSP) for $5.2 billion.

In part, the U.K.'s more hesitant performance was driven by the oil industry's continued woes, with Brent crude now trading well below $49 a barrel, its lowest price since April 2009. Mid-cap oil producer Afren (AFRNF) dropped almost 20% to 31.50 pence after cutting estimates of the reserves at its Barda Rash field in Iraqi Kurdistan and suggesting it would now have to consider its strategic options for Iraq. Meanwhile, oil rig maker Lamprell sank 13.33% to 97.50 pence as it warned that a reduction in capital spending by oil exploration companies would cut its revenue for 2015. Other oil and gas producers and service providers companies also fell. 

In the airline industry, Irish carrier Aer Lingus fell 5.6% after rebuffing a revised 1.3 billion euros ($1.53 billion) offer from British Airways owner International Consolidated Airlines Group. But bidder  IAG, which also owns Spain's Iberia, climbed 1.63% to 473 pence, after responding there could be no certainty that a further proposal or offer would be forthcoming.

In Asia, Hong Kong's Hang Seng index closed up 0.45% at 24,026.46 as the market responded positively to last Friday's news that Asia's richest man Li Ka-shing plans to merge and reorganize his Cheung Kong and Hutchison Whampoa companies. The Tokyo market was closed for a holiday.