European shares ended Monday’s session 1% higher as investors snapped up bargains and oil prices fell sharply thanks to the stronger dollar. The US currency gained on expectation that there will not be another euro zone interest rate hike in the near future.
Carmakers and related companies, such as tyre manufacturer Continental, benefited from the lower oil prices. Air France-KLM and EasyJet rose as both announced improved passenger traffic. Banks were poor performers due to ongoing concerns over their health almost a year into the credit crisis. Mining companies’ shares declined as metal prices slipped.