European markets hit a six-week high as the euro fell against the dollar. At the close of the European session one euro was worth $1.12. The market appears to have shaken off uncertainty about a Federal Reserve rate rise in June.

The banking sector also helped pull up the markets.

The FTSE 100 closed 1.35% up at 6,219.26.

In London, the Royal Bank of Scotland (RBS) gained 5%. A penalty the bank was preparing to pay over misleading investors about mortgage-backed securities is now in question after a U.S. appeals court voided a similar penalty imposed on Bank of America (BAC - Get Report) .

Old Mutual gained almost 6% today after it announced that there has been bid interest in OM Asset Management (OMAM) . The Financial Times reported that Affiliated Managers Group (AMG - Get Report) was close to securing a cash-and-stock deal for Old Mutual's stake.

Once again miners led the fallers' table on the FTSE 100, with Fresnillo and Randgold Resources each losing about 3%.

The Dax rose 2.18% to close at 10,057.31 and the Cac 40 closed at 4,431.52, 2.46% up.

In Paris, Société Générale closed 5.4%, BNP Paribas was up 3.7% and Credit Agricole was up 3.4%.

Greece's Athens Stock Exchange General Index closed 1.08% down at 642.08 as Greek lawmakers await a decision from eurozone finance ministers on whether they will approve an additional tranche of the country's bailout.