European stocks were muted on Monday as markets kept an eye on oil prices ahead of a crunch meeting of the OPEC+ oil-producing alliance.
The pan-European Stoxx 600 slid 0.1% lower in early trade, with travel and auto stocks shedding 0.6% while basic resources climbed 1.3%.
The tepid start for Europe comes against a similar backdrop overnight in Asia-Pacific, where shares were mixed in Monday trade as Brent crude futures hovered above $76 ahead of another meeting between OPEC and its allies.
The group, known as OPEC+, is holding crunch talks on Monday following disagreements in the group last week over extending the duration of oil production cuts. The United Arab Emirates objected to the move so talks continue on Monday.
Tech shares in Asia were also mostly lower, and particularly shares of Chinese tech firms in Hong Kong which fell in Monday trade as regulatory fears resurfaced.
Europe investors will keep an eye on final euro zone purchasing managers’ index data from the region for June on Monday, as well as French industrial output data for May and Turkish inflation figures for June. There are no major earnings releases due Monday.
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