In stocks news, the media sector was one of the major gainers across Europe. Cable and Wireless announced on Monday it was due to sell assets in their Monaco and Islands unit; shares were 5.5 higher. JPMorgan confirmed its overweight rating on Italian firm Mediaset although the bank actually downgraded its stock, shares were higher by 5.5 percent.
UBS shares were down after reports in the New York Times saying that it is nearing a settlement with U.K. and U.S. authorities over the libor scandal.
Energy giant BP is expected to outline growth plans on Monday for its oil and gas production arm in its first strategy update since striking a series of deals aimed at getting its Russian and U.S. operations, which make up half of the company's output, back on track.
Asian shares edged higher on Monday as China's manufacturing data revealed the fastest increase in manufacturing output in 13 months. HSBC's Purchasing Managers' Survey (PMI) rose to 50.5 in November from 49.5 in October. It was the first time since October 2011 that the survey crossed above 50 points.