European Stocks Start Week on Negative Note

European equity markets closed lower on Monday, with the benchmark Stoxx 600 down 0.3% and the German DAX retreating 0.4% dragged by weak economic data.

Eurozone business activity declined for a fifth month in November, suggesting the economy was sliding into a mild recession, while retail sales in October came in weaker-than-expected.

Also, optimism about news that more Chinese cities were easing coronavirus curbs faded.

Among sectors, food and beverage stocks lost more than 1.4% to lead losses in the Old Continent, followed by a 0.8% drop in chemicals and a 0.5% decline in retailers.

On the corporate front, online German broker Flatex cut its guidance, while Vodafone's CEO Nick Read stepped down and will be replaced by finance chief Margherita Della Valle.