European sharemarkets finished up on Monday, led higher by retailers and energy companies.

Shares in oil and gas exploration company Dana Petroleum surged to a record high after announcing an oil find in the North Sea, while shares also rose in Lundin petroleum after Sweden's largest oil explorer announced an 81 percent increase in its first-quarter profit.

Shares in Britain's largest electronics retailers, DSG International and Kesa Electricals, rose over speculation that Best Buy may start to bid for European companies after the largest electronics retailer in the United States signed a US$2.15 billion joint venture with London-based Carphone Warehouse last week, speaking of ambitious expansion plans.

At the close of trading on Monday, the FTSEurofirst 300 index of pan-European blue chips gained 3.790 points, or 0.282 percent, to close at 1,346.47, while the UK's FTSE 100 index gained 15.90 points, or 0.26 percent, to close at 6220.60.

France's CAC index gained 15.65 points, or 0.32 percent, to close at 4976.21, while, Germany's DAX index gained 32.78 points, or 0.47 percent, to close at 7035.95.

On the commodity markets, Brent Crude oil dropped US 24 cents or 0.2 percent, to be worth US$123.93, while on the Forex Gold Index, gold added US$7.50, or 0.9 percent, to close at US$883.50.

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