European stocks slide, energy sector records largest losses

European stocks stabilized on Monday, as a decline in oil prices led to a decline in energy stocks, ahead of comments by European Central Bank President Christine Lagarde on monetary policy before a committee of the European Parliament.

According to Reuters, the European STOXX 600 index remained stable at 0820 GMT, while the British Financial Times 100 index fell the most among its European counterparts.

Energy stocks fell 0.8 percent after Brent crude prices fell, heading towards $80 a barrel, with investors awaiting the OPEC+ meeting scheduled for later this week to reach an agreement to reduce supplies until 2024.

All eyes will focus on Lagarde’s comments, as she will speak at 1400 GMT before the European Parliament’s Economic and Monetary Affairs Committee and provide an assessment of the region’s monetary policy.

Preliminary euro zone inflation estimates and November manufacturing data will be key points for investors to watch this week.

The shares of airport operator ADB recorded the lowest level in nearly a month, falling 5.9 percent, sliding to the bottom of the STOXX index.

The real estate website Rightmove achieved the largest gains, as its stock rose 5.5% after it raised expectations for the average annual revenue per advertiser.