Most European stock markets closed unanimously higher on Monday after investors shrugged off speculation of a pending crisis stemming from Italy's rejection of constitutional reforms and put in a steady bid for risk stocks throughout much of the session.
After faltering when markets opened, U.K. and European stocks rallied, with the DAX leading the way back up to close 1.7% higher at 10,694.5.
The CAC 40 in France was up 0.9% at 4,573.4, while the Stoxx Europe 600 index was up 0.6%, to 341.4. In London the FTSE 100 and FTSE 250 trailed their continental counterparts with gains of 0.3% and 0.1% to close at 6,747.2 and 17,456.1 respectively.
The exception to the positive trend of course was the Italian FTSE MIB, which closed 0.4% lower at 17,015.
In the currency market the euro was the biggest gainer among European currencies, rising more than 200 points against the dollar to trade above 1.0700 for the first time in nearly a month, as investor concerns eased.
The pound was also buoyant, holding onto recent gains relative to the greenback, with bids and offers still being accepted broadly around Friday's closing level of 1.2700 by the time of the London close on Monday.
Bond markets were volatile during the the session, with yields ultimately rising in Germany and France, while falling slightly in the U.K. and Italy ahead of the close.
The 10 year German yield was up some 6 basis points at 0.34% while the French 10 year yield was some 3 basis points higher at 0.79%. The U.K. 10-year was down one basis point at 1.27% and the Italian 10-year was down around 2 basis points at 2%.
In individual stocks, autos, banks, utilities and consumer shares were all among the biggest winners from the session.
BMW and Daimler were up more than 2% as concerns eased over political uncertainty in Italy and industry data showed solid demand for both new and used cars in the U.K. during the month of November.
Much in the same way as with the German auto firms, French car manufacturers were beneficiaries of easing concerns over the possible fallout from Italy's referendum, after markets spent the best part of a week pricing in a catastrophe scenario.
This is while ArcelorMittal rose in line with gains across the wider commodity producing sector, which also pared losses that were racked up in the final stages of last week.
In London, the board of risers for the FTSE 100 was heavily populated by miners including Glencore (GLCNF) and Antofagasta (ANFGY) , which both gained more than 4% in response to stronger metals prices.
But consumer-facing stocks also made it in among the winners, with Tesco (TSCDY) gaining more than 2.5% after industry data showed the grocer cementing earlier gains of market shares during the recent twelve weeks.
Burberry (BURBY) benefited from takeover speculation after it emerged that the luxury brand has held talks with the U.S. firm Coach (COH) about the possibility of a merger. The stock was up more than 1.8%.