Monday's closing of European stocks was marginally higher due to the positive sentiment in the United States.

With the majority of sectors and major bourses in the green, the pan-European closed 0.14% higher. With increases of 1.21%, household goods and mining stocks outpaced a 1% decline in oil and gas equities.

Following UniCredit's attempt to purchase Banco BPM, another Italian lender, for about 10 billion euros ($10.5 billion), bank stocks were also moving on Monday. While UniCredit shares retreated and concluded lower by 4.8%, Banco BPM shares ended the session up 5.5%.

Commerzbank's stock, meanwhile, dropped as much as 6.3% after UniCredit stated that their offer for Banco BPM was distinct from its effort to acquire the German lender and that any proposal would be made following Banco BPM's integration. The stock dropped 5% at the closing.

The announcement that President-elect Donald Trump intended to choose Scott Bessent, the founder of Key Square Group, as US Treasury secretary lifted the spirits of the world's markets.

In general, investors have had a positive opinion of the choice and believe the hedge fund manager would help the equities markets. Trump said that Bessent would enable him to enact protectionist trade laws, which would have detrimental effects.

Monday saw a surge in US markets as Wall Street rejoiced at Bessent's nomination. With markets closing early on Friday and closed on Thursday for Thanksgiving, investors are also anticipating a truncated business week.

Asia-Pacific markets, meanwhile, saw a majority of Monday's gains as investors anticipated a plethora of economic data this week, such as China's industrial data and India's third-quarter GDP figures.