German Shares Lead Europe Higher, ThyssenKrupp And Volkswagen Rise

(RTTNews) - Germany led the major European averages higher on Monday. Strong cues from overseas and higher oil prices helped lift stocks across the board.

The DAX of Germany climbed 186 points, or nearly 2 percent, to close near 9,574. Shares rose early in the day and held steady through the afternoon. The advance reversed weakness seen on Friday, resuming strength that marked much of the middle of last week.

Among individual stocks, E.ON had a strong day, rising 5.37 percent. The utility warned last week that the downturn in the energy industry is a "reality check" and its dividend policy many not be sustainable. Peer RWE also increased 5.78 percent.

ThyssenKrupp and Salzgitter were strong performers as well, climbing by 4.78 percent and 4.36 percent, respectively.

There was strength among car makers and financial shares. Volkswagen gained 4.12 percent. Deutsche Bank was up 3.82 percent.

Elsewhere in the region, the CAC 40 of France rose 1.79 percent. The FTSE 100 of the U.K. gained 1.47 percent and the SMI of Switzerland finished higher by 1.25 percent.