U.K. Market Lifted By Global Cues, "Brexit" Discussion Remains In Focus

(RTTNews) - The U.K. was the focus of attention in European trading on Monday, though concerns about a so-called "Brexit" were largely ignored as stocks throughout the region pushed higher. Global strength and an bump in crude oil prices helped lift equities in the region.

The FTSE 100 advanced in early trading and took another step higher during the afternoon. The index finished off its highs for the session, but still up 87.5 points, or about 1.5 percent, to close just below 6,038.

The advance reversed weakness seen in the last couple sessions of last week, resuming a strong advance posted last Wednesday.

The spotlight fell to the U.K. amid worries that the country might pull out of the EU.

U.K. Prime Minister David Cameron struck a reform deal at a European Union summit on Friday that would give the UK "special status" in the EU. Meanwhile, London Mayor Boris Johnson announced over the weekend that he would campaign for a British exit from the EU. Cameron has set a June 23 date for referendum on Britain's membership of the EU.

Among individual stocks, Home Retail Group jumped nearly 13 percent, bolstered by reports that Sainsbury is seeking an extension of its Tuesday's deadline to make a formal proposal after the emergence of a rival offer from Steinhoff.

Meanwhile, HSBC Holdings finished lower by 0.88 percent. The Asia-focused lender posted an unexpected fourth-quarter loss after booking fair-value losses on its own debt.

Elsewhere in Europe, the DAX of Germany climbed 1.98 percent and the CAC 40 of France rose 1.79 percent. The SMI of Switzerland finished higher by 1.25 percent.