World equity markets hit their highest level in more than a month on Monday, lifted by a deal to give global investors easier access to China's $3.9 trillion stock market and more gains in U.S. equities.

Wall Street ended higher, with the S&P 500 rising 0.3 percent to 2,038.26, a closing record, while the Dow industrials gained 0.2 percent to a new closing high of 17,613.74.

The CBOE Volatility Index, or VIX, Wall Street's favored index of anxiety, hit its lowest level since mid-September.