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The FTSE Eurofirst 300 mirrored a rally on Wall Street following talk of an amended rescue plan from the US government, the Financial Times reports.
A jump of three per cent was seen on the market, with the fight-back being spearheaded by Irish banks.
Anglo Irish Bank, Bank of Ireland and Allied Irish Banks all saw their stocks and shares rise by between nine and 23 per cent.
However, the manufacturing industry appeared to be in contraction, with carmakers in particular feeling the strain. Porsche, Daimler and Renault lost 22.1 per cent, 17.5 per cent and 13.6 per cent respectively.
Confidence in Ireland's four major banks was boosted last week by the Irish government's two-year guarantee of all deposits, covered bonds, senior debt and dated subordinated debt, according to Financial News.
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