Market Update
European equities were off to a lackluster start Monday as stocks appeared to be running out of steam after a solid last week.
At the time of writing, Britain's FTSE was flat, France's CAC slipped 0.1% while Germany's DAX gained 0.1%.
Shares traded sideways as strength in automakers was countered by selling in banks and miners.
Financials were hit hard with Barclays, BNP Paribas, Credit Agricole and Deutsche Bank losing 1.2% to 2.2% after Standard & Poor's said a proposal aiming to roll over some of Greece's debt obligations toward French banks would amount to a default.
Automakers BMW, Renault, Daimler and Audi rose 0.3% to 1.4% while miners BHP Billiton, Rio Tinto declined 0.3% to 0.6%.
Elsewhere, Asian markets were trading higher though volumes remained thin as U.S. markets remain closed Monday for a national holiday.