European stocks sharply higher, led by financials

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European stocks sharply higher, led by financials
MADRID (MarketWatch) -- European stock markets opened sharply higher on Monday, carrying on gains from Asia, though trading was thinned some as London markets were closed for a holiday. Markets were also encouraged following an advance on Wall Street on Friday after a speech by Federal Reserve Chairman Ben Bernanke. The Stoxx Europe 600 index rose 0.7% to 227.21, while the France CAC 40 index rose 1.6% to 3,137.50 and the German DAX 30 index gained 1.6% to 5,624.07. Gains were led by financials, such as Societe Generale SA , up 3.6%, and Allianz SE , up 3.9%. ArcelorMittal was another big gainer, up 4.5%.