Industrial metals topped the leaderboard, alongside a solid performance from most mining names.
Standard&Poor's upgraded its rating on Rio Tinto's long-term debt from 'A-' to 'A', saying that supportive commodity prices and the company's focus on costs and productivity likely meant its operational performance would remain robust.
Analysts at Societe Generale upgraded their recommendation on stock of BP from 'hold' to 'buy', citing fading concerns regarding the Deepwater Horizon disaster.
South African president Jacob Zuma has agreed to be recalled, with African National Congress officials said to be negotiating the manner in which it is to be communicated.
Analysts at Goldman Sachs upgraded their recommendation for shares of Evraz on Monday from ‘hold’ to ‘buy’, telling clients that industry spreads and margins are above mid cycle levels and that they believe these will be sustained, "supported by tightening steel market supply-demand fundamentals and rising cost pressures. ".
BP announced on Monday that it had kicked off gas production at its Atoll Phase One asset off the coast of Egypt after completing the project seven months ahead of schedule at just two-thirds of the total costs it had anticipated.
Chinese bank lending picked up sharply at the start of the year, but some economists cautioned about reading too much into the data due to distortions from seasonal effects, pointing out signs of a slowdown evident in broader measures of credit growth.
The United States and South Korea have agreed to terms regarding further diplomatic engagement with North Korea, according to US vice president Mike Pence who said that talks between Seoul and Pyongyang could eventually link Washington with the rogue nation.