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European stock markets drifted lower in early action Monday, with oil and drug stocks leading the declines, failing to carry over gains from Asian markets. The Stoxx Europe 600 index was down 0.2% to 265.06, led by Sanofi SA , off 1.6%. The Spain IBEX 35 index rose 0.8% to 6,812.80, with Banco Santander SA rising 1.8%.
The FTSE 100 index fell 0.2% to 5,775.55, with support from a 1% rise by Rio Tinto PLC , while Royal Dutch Shell PLC dropped 1%. The French CAC 40 index fell 0.2% to 5,776.71, and the German DAX 30 index was flat at 6,866.62.
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