Europe close: Stocks come off lows but start week lower
Selling in European stocks carried over from the previous week on the back of weaker-than-expected money supply figures in China and amid negative headlines surrounding the political situation in Britain, although by the end of trading equity benchmarks had come off their lows of the session.
Commenting on the start to the trading week, Henry Croft at Accendo Markets said: "Global equities are mixed at the start of the new trading week as investors digest a plethora of drivers."
Among the concerns weighing on sentiment were the ongoing doubts about the White House's tax reform plans, Croft said.
Against that backdrop, by the end of the day the benchmark Stoxx 600 had retreated 0.66% or 2.56 points to 386.13, alongside a 0.40% or 53.05 point fall to 13,074.42 in the German Dax while the French Cac-40 fell 0.73% or 39.09 points to 5,341.63.
Sector-wise, the Stoxx 600's Basic Resources gauge was among the worst performers, surrendering 0.72% to 447.95 after the People's Bank of China reported that the rate of growth in the narrow monetary aggregate M2 slowed from a 9.2% clip for September to 8.8% in October (consensus: 9.2%).
Meanwhile, at the weekend reports indicated that as many as 40 MPs were considering a no-confidence vote in Prime Minister Theresa May. Those headlines saw the euro gain 0.65% versus sterling to trade at 0.88961.
Linked to the above, the International Monetary Fund's Joerg Decressin told Reuters the economic recovery in the single curreny bloc had become broader and stronger but he cautioned that a "disruptive" Brexit might damage the area's economic outlook.
Earlier on Monday, the Washington-based lender projected Eurozone GDP of 2.4% in 2017 - highlighting how growth was now the broadest that it had been in two decades - but warned authorities in the euro area that they were facing multiple risks over the long-run.
Those included an aging population, rising protectionism, geopolitical tensions and lower exports as China's economic growth turned lower.
On the corporate front, a plunge in shares of EdF dominated the day's newsflow after the electricty group's decision to cut its 2018 guidance sent the shares spiralling lower.
In other news, Deutsche Bank chose Barclays, Citigroup and Credit Suisse to act as bookrunners for the upcoming float of its asset management unit, Reuters reported citing a source familiar with the discussions.
At the weekend, Lufthansa's boss told Boersen Zeitung the airline had the financial wherewithal to participate in the future consolidation of the sector.