Technology was crowned Europe's top performing sector Monday, jumping 1.31 percent, with almost all of its stocks finishing in the black. German-listed Software roared ahead, jumping 4.85 percent after both UBS and Independent Research raised their target prices on the stock.
Sticking with the top of the STOXX 600, engineering firm GKN rose over 5 percent following a report by The Sunday Times which stated that the U.K. company was looking into potentially splitting into two listed firms — one business being aerospace and the other being automotive.
Earnings season continued to be in full swing Monday, as a whole host of corporates posted their latest figures. Dutch health and technology firm, Philips, reported that its core profits rose 12 percent to 532 million euros ($626.11 million) in the third quarter. Its shares rose over 1 percent on the news.
Securitas meanwhile surged 3.6 percent after it reported better-than-expected earnings over the weekend. The security services group said it gained market share in the U.S. while core earnings were in line with expectations.