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Major stock markets diverged, the dollar gained and bitcoin extended a record run higher Monday, as traders took their lead from events in the United States and China.
Chinese stock markets closed mixed and oil prices slid after China's latest plans to stimulate its economy fell short of expectations.
Europe saw solid gains around midday, tracking events in the United States where president-elect Donald Trump is putting together his cabinet.
"European markets are enjoying an upbeat start to the week, with the uncertainty around trade relations with the US seemingly being put on the backburner," said Joshua Mahony, analyst at traders Scope Markets.
Stocks rallied last week on hopes that a second Trump administration -- supported by a Republican Congress -- would push through a slew of business-friendly policies including deregulation and tax cuts, offsetting concerns about possible trade wars.
However, the mood changed after China said Friday it would ramp up a local debt ceiling, but fell short of announcing any new growth-boosting measures.
Hopes had been building all last week that officials would deploy a "bazooka" stimulus, the need for which was highlighted Sunday by data showing Chinese inflation slowed last month and came in below forecasts.
Authorities in late September began unveiling a raft of policies aimed at reigniting the economy, which has failed to fire since the lifting of tough Covid-fighting rules at the end of 2022.
Among them were interest-rate cuts and an easing of home-buying measures as leaders try to address a crisis in China's vast property sector.
Wall Street indices hit fresh record highs Friday, helped also by another cut in US interest rates by the Federal Reserve.
Observers said there were concerns about the impact of Trump's planned tariffs, which he said would have a particular focus on China, fuelling talk of another trade war between the economic superpowers.
Pepperstone Group's head of research Chris Weston said Beijing may have had an eye on this in its pre-weekend announcement.
"Many feel that China is keeping its tactical powder in play for such time as the Trump-China tariff negotiations build, and they can respond in a more targeted fashion to stem the likely economic fallout," he noted.
Weston added that there were downside risks to Chinese stock markets and yuan in the short term.
Bitcoin hit an all-time high $82,387.50 Monday on optimism that Trump would ease regulations surrounding the cryptocurrency.
"We shouldn't expect this bullish trend to be interrupted for a long time -- about a year," Stephane Ifrah, of French crypto asset management company Coinhouse, told AFP.
"The next level for me is $100,000."
- Key figures around 1100 GMT -
London - FTSE 100: UP 0.8 percent at 8,135.06 points
Paris - CAC 40: UP 1.1 percent at 7,418.18
Frankfurt - DAX: UP 1.3 percent at 19,465.13
Tokyo - Nikkei 225: UP 0.1 percent at 39,533.32 (close)
Hong Kong - Hang Seng Index: DOWN 1.5 percent at 20,426.93 (close)
Shanghai - Composite: UP 0.5 percent at 3,470.07 (close)
New York - Dow: UP 0.6 percent at 43,988.99 (close)
Euro/dollar: DOWN at $1.0663 from $1.0724 on Friday
Pound/dollar: DOWN at $1.2880 from $1.2921
Dollar/yen: UP at 153.74 yen from 152.62 yen
Euro/pound: DOWN at 82.76 pence from 82.95 pence
West Texas Intermediate: DOWN 1.8 percent at $69.10 per barrel
Brent North Sea Crude: DOWN 1.6 percent at $72.69 per barrel
S.Jordan--TFWP