Asia and Europe Close Higher

European stock markets closed higher on Monday. In London, the Financial Times-Stock Exchange 100 gained 18.90 points, or 0.41%, to close at 4,583.40. UK shares recovered nicely and closed higher following an easing in oil prices and strong sales figures from media giant WPP (+2.96%), which reported 5.7% higher third-quarter revenues, the highest growth rate since first-quarter 2001. BP fell 1.30%, after it reported third-quarter earnings of $4.338 billion, excluding one-off and non-operating items, but reaction in the market was negative. Insurance stocks, including L&G and Royal & Sun Alliance recovered after New York Attorney General Eliot Spitzer said he would not press criminal charges against US firm Marsh & McLennan.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.