The oil and gas sector was the worst performer during Monday trade, falling 1.5 percent, with OPEC countries seemingly far from reaching an agreement over a supply cut. After more than 18 hours of talks in Vienna over the weekend, there was no tangible consensus from non-OPEC producers over joining the proposed production cut.
Brent crude was down, 3.3 percent trading at $48.06 a barrel, while WTI was falling 3.14 percent at $47.17 a barrel.Officials will be meeting at the end of November, hoping to have a final deal that could boost oil prices.
Bank stocks were also down on Monday, dropping 0.8 percent. In Italy, shares of Monte Dei Paschi di Siena were suspended from trade after falling as much as 4.76 percent. This came amid little news flow surrounding the firm, although the CEO is due to fly to Qatar to present a rescue plan to the Qatar Investment Authority.