The pan-Europeanclosed around 0.7 percent higher after a selloff on Friday, with all major bourses pushing into positive territory.
– which have a heavy exposure to China – were the major outperformers. , and all posted modest gains and helped the higher to close around 0.8 percent higher.
The Frenchalso provisionally ended 0.8 percent up, while outperformed their European counterparts, rallying to close around 1.7 percent higher.
European markets followed their Asian counterparts higher on Monday after China’s central bank on Sunday lowered the reserve requirement ratio (RRR) for all banks by 100 basis points. The wider-than-expected cut was the second reduction in two months, as the world’s second-largest economy attempts to combat slowing growth.
The news also saw U.S. stocks gains more than 1 percent early during Wall Street trading.
Back in Europe,was the only stock on the DAX to close in negative territory. Shares ended down around 1.9 percent, in the wake of a dramatic confrontation between Chairman Ferdinand Piech and senior board members last week.
Meanwhile, shares ofclosed around 5.7 percent higher after reports that it will acquire BASE Company from Dutch firm for $1.43 billion. Shares of the KPN closed around 3.1 percent higher.
British-basedalso posted gains, finishing up around 2.3 percent, after an analyst upgrade from BNP Paribas.
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