European benchmarks snapped a near weeklong losing streak Monday as the flames coming off of the White House's spat with North Korea appeared to fan themselves out and markets were gifted with an absence of adverse corporate or economic news.
Losses stemming from concerns over a possible escalation of tension between the U.S. and North Korea saw some segments of European stock markets post their worst week for 2017 so far, finishing Friday.
However, civil unrest in Charlottesville, Va., over the weekend may have helped to soak up some of the attention that had previously been focused on increasingly stern rhetoric emerging from Washington over North Korea's missile program and threats against U.S. territory.
The FTSE 100 was 0.70% higher at 7,358 just an hour off from the close in London while the CAC 40 in Paris had gained 1.12% to 5,117. In Frankfurt, the DAX was up 1.30% to 12,170 while, in Southern Europe, both the IBEX in Madrid and the FTSE MIB in Milan each posted returns in excess of 1.5%.
In individual stocks, Anglo American (NGLOY) , BHP Billiton (BHP) and Glencore (GLNCF) all gained strongly in London, rising between 2% and 2.9%, on the back of Chinese industrial data released overnight in the Asia session.
All headline numbers for the major Chinese economic data releases came in below expectations although the steel industry was a notable pocket of strength, with output rising solidly during the first seven months of the year.
However, travel and tour operator TUI Trave (TTVLF) was the top riser on Britain's large cap FTSE 100 index, with a gain of nearly 5%, after analysts at Credit Suisse upgraded the shares.
The company reported third-quarter results Thursday during which it left full-year guidance unchanged, which came as a relief to some investors who had previously expected a deterioration.
In Paris, commercial real estate firm Unibail Rodamco (UNBLF) rose to the top of the CAC 40 with a gain of more than 3% after it said it will buy back €750 million of shares.
Also in the City of Lights, yogurt-maker Danone (DANOY) saw its stock rise following a report from a New York newspaper that it could be in the crosshairs of a U.S. acquirer.
The report also suggested that the French government might allow the deal to go ahead, despite having a veto right on any takeover given Danone's status as a strategic asset. The shares were up nearly 3% in noon trading.
Bank stocks Societe Generale (SCGLY) and BNP Paribas (BNPQY) were also noteworthy risers in the wake of last week's losses. On the same side of a different coin, Deutsche Bank (DB) and Commerzbank (CRZBY) were both seen at the top of the DAX index in Frankfurt during noon trading, with gains of more than 2% each.