Investing.com - European stocks closed higher Monday on the Greek debt deal and positive global economic numbers.
At the close of European trade, the EURO STOXX 50 added 0.28%, France’s CAC 40 eased higher by 0.26%, while Germany’s DAX 30 climbed 0.40%.
Launching the bullish sentiment Greece announced a plan to buy back its debt from private investors, as part of an agreement to unlock a new bailout package worth EUR44 billion.
Euro zone finance ministers were to hold talks in Brussels later in the day to discuss the terms of the new Greek aid deal, after Germany’s parliament gave it the green light on Friday. The ministers were also to discuss details of a EUR10 billion bailout for Cyprus.
Elsewhere, data showed that the final euro zone manufacturing purchasing managers’ index remained unchanged at 46.2 in November, the highest level since March, but remaining in contraction territory for the 16th consecutive month.
Financial stocks turned broadly higher, as French lenders BNP Paribas and Societe Generale saw shares rise 0.42% and 1.73%, while Germany's Deutsche Bank and Commerzbank advanced 0.91% and 0.14%.
Peripheral lenders also posted sharp gains, with Italian banks Unicredit and Intesa Sanpaolo rallied 2.51% and 2.01%, while Spain's BBVA and Banco Santander jumped 0.86% and 1.29% respectively.
On the downside, Colruyt plunged 5.28% after posting first-half Ebit of EUR230.8 million, below analysts' estimates.
In London, commodity-heavy FTSE 100 rose 0.08%, boosted by gains in mining stocks.
Mining giants Rio Tinto and BHP Billiton saw shares rally 1.50% and 0.76%, while copper producers Xstrata and Kazakhmys advanced 0.31% and 1.40%.
Oil and gas major Anglo American was also on the upside, climbing 0.74%, while rival BP added 0.45%.
In the financial sector, stocks turned mostly higher. The Royal Bank of Scotland edged up 0.07% and HSBC Holdings inched 0.08% higher, while Barclays climbed 0.85%. Lloyds Banking underperformed on the other hand, dropping 0.60%.
Elsewhere, Cable & Wireless Communications soared 5.29% after Bahrain Telecommunications Co. agreed to buy its business in Monaco.
In the U.S., stocks followed mixed with the Dow Jones Industrial Average down 0.09%, the S&P 500 up 0.09% and the tech heavy Nasdaq higher by 0.16%.
In other news Monday, final data showed that China’s HSBC purchasing managers’ index came in at 50.5 in November from 49.5 in October, indicating that economic activity is picking up.
Investors are awaiting the Canadian interest rate decision and the Australian GDP on Tuesday.