It's called Fluorescents. Here is an explanation of it that I borrowed from another site: Hope this helps:
Fluorescence is technically speaking: the emission of light by a diamond as a result of its simultaneously absorbing radiation of another wavelength.
The electrons of the carbon molecules of the diamond are excited by the radiation and emit the excess energy in returning to their original state. This emission, unlike phosphorescence, ceases as soon as the source of excitation is removed, and so the glow disappears.
The light emitted is generally of a lower frequency than the radiation absorbed, which is generally ultraviolet light.
I do recommend viewing a prospective diamond under uv light.
Most jewelers will have a diamondlight with its own uv light source.
If the diamond picks up a light neon blue hue under the uv light, it most probably has a slight fluorescence that may have little positive effect on the diamond's color grade or appearance.
If it displays a strong neon blue cast, it will have strong blue fluorescence which will most probably cause the stone to appear foggy or milky, so avoid it, if you prefer a sparkling diamond under all circumstances.