The FTSE Eurofirst 300 gained 0.5 percent on Monday to 1,170.62, chiefly on gains in the oil and telecommunications sectors.

The oil sector saw gains after losses had been seen due to concerns that recent terrorist activity, on top of high oil prices, might decrease demand.

Repsol gained 1.5 percent to €23.15, Neste Oil was up 0.6 percent to €21.80, Eni added 2.1 percent to €23.36, Total gained 2.2 percent to €208.50, and Statoil advanced by 2.4 percent to NKr141.00.

In the telecommunications sector, Telenor was up 1.4 percent to NKr55.25 after JPMorgan raised its rating to “overweight”.

Elsewhere in the sector, France Telecom gained 0.3 percent to €23.90 and Telecom Italia added 0.9 percent to €2.618.

In the motor vehicle manufacturing sector, Volvo lost 8.1 percent to SKr325.50 even though its pre-tax profit in the second quarter was its highest ever and it raised its outlook for market growth in North America to 20 percent as demand was down in the European market. Fiat, however, gained 4.3 percent to €7.11.

The banking sector was generally lower. German bank Commerzbank lost 1.2 percent to €18.44 after the news that it is cooperating with an investigation into money-laundering linked to a Russian telecommunications company.

In Italy, meanwhile, Mediobanca lost 2.4 percent to €16.164, while Banca Monte dei Paschi di Siena lost 3.2 percent to €*3.3090.