LONDON (MarketWatch) -- European shares moved higher at the end of a dismal year for global markets, led by heavyweight mining and oil stocks in a shortened trading session, while several continental markets remained closed.
Shares in oil majors continued their recent rally, with BP rising 1.4% and France's Total up 0.8%.
Mining stocks were also mostly higher, with Rio Tinto climbing 1.9% and BHP Billiton adding 1.3%.
Among the regional indexes, the U.K.'s FTSE 100 (UK:UKX: news , chart , profile ) gained 0.8% at 4,429.42. Wednesday's gains mean the main U.K. market has fallen 31.4% over the course of the year.
The French CAC 40 (FR:1804546: news , chart , profile ) rose 0.5% at 3,232.74. The index has fallen 42.4% since the start of the year.
Several continental markets, including the German and Swiss exchanges, were closed Wednesday. Among other companies in focus, shares of Aberdeen Asset Management (UK:ADN: news , chart , profile ) jumped 8.4% after it agreed a deal to buy a fund management business from Credit Suisse in exchange for stock worth up to 250 million pounds ($360 million).
The deal will give Credit Suisse a roughly 25% stake in Aberdeen and will add around $71 billion to the U.K. firm's assets under management. Shares in Credit Suisse did not trade as the Swiss market remained closed.
The auto sector was again higher, with Peugeot (FR:012150: news , chart , profile ) rising 2.2% and Renault (FR:013190: news , chart , profile ) up 1.8% in Paris. European car makers rallied in the previous session after the U.S. government pledged more support for General Motors and its GMAC lending arm.
