European stocks closed mostly lower on Monday as markets digested the results of Germany's general election and continued to adjust to uncertain expectations about government spending in Europe and trade flows with the U.S. The STOXX 50 fell 0.4% to close at 5,452 and the STOXX 600 edged down 0.1% to 553. The CDU/CSU bloc won 28.6% of the vote, in line with expectations but needs to form a coalition to secure a parliamentary majority. Negotiations could be lengthened and the far-right AfD and the Left Party together secured a third of the seats, enough to block key legislation in the new parliament, notably a debt curb that would allow for increased public spending. Prosus plunged 9% after the Dutch tech investor said it would acquire JustEatTakeaway.com in a deal worth €4.1 billion. Schneider, in turn, lost 7%, while luxury goods giants closed with big losses. On the other hand, Banks, insurance companies and automakers posted gains.(Newsmaker23)

Source: Trading Economics