Investing.com - European stocks were broadly lower in subdued trade on Monday, as concerns over Greece’s debt negotiations continued to weigh.
During European morning trade, the EURO STOXX 50 retreated 0.79%, France’s CAC 40 lost 1.07%, while Germany’s DAX 30 slid 0.37%.
European equity markets were under pressure after euro area finance ministers said Friday that Greece must present a full economic reform plan by early May in order to access any further funding.
Financial stocks were broadly lower, as French lenders BNP Paribas (PARIS:BNPP) and Societe Generale (PARIS:SOGN) dropped 0.63% and 0.49%, while Germany's Deutsche Bank (XETRA:DBKGn) plummeted 2.47%.
Among peripheral lenders, Italy's Unicredit (MILAN:CRDI) and Intesa Sanpaolo (MILAN:ISP) retreated 0.90% and 0.49% respectively, while Spanish banks BBVA (MADRID:BBVA) and Banco Santander (MADRID:SAN) slid 0.73% and 0.95%.
On the upside, Volkswagen (XETRA:VOWG) surged 4.62% after Chairman Ferdinand Piech resigned from all his posts at the German carmaker, ending a power struggle with other company leaders supporting its chief executive officer.
Adding to gains, Cap Gemini (PARIS:CAPP) advanced 0.78% after the French technology-services provider agreed to buy Igate Corp. (NASDAQ:IGTE) for about $4 billion in cash to expand in North America.
In London, FTSE 100 dropped 0.55%, weighed by losses in the financial sector.
Shares in Barclays (LONDON:BARC) retreated 0.99% and Lloyds Banking (LONDON:LLOY) tumbled 1%, while the Royal Bank of Scotland (LONDON:RBS) lost 1.22%.
HSBC Holdings (LONDON:HSBA) overperformed however, with shares soaring 2.85% amid reports the lender is considering spinning off its U.K. retail bank for about £20 billion.
Meanwhile, mining stocks were broadly higher as Rio Tinto (LONDON:RIO) rose 0.26% and Fresnillo (LONDON:FRES) gained 0.41%, while Rio Tinto and Anglo American (LONDON:AAL) advanced 0.59% and 0.92% respectively.
In the U.S., equity markets pointed to a mixed open. The Dow Jones Industrial Average futures pointed to a 0.03% downtick, S&P 500 futures signaled a 0.01% dip, while the Nasdaq 100 futures indicated a 0.10% gain.