European Stocks Muted After US Debt Deal, With UK Market Closed

European shares were little changed as investors assessed a tentative agreement in the US to raise the debt ceiling, while trading was light with a number of markets closed for holidays.

The Stoxx Europe 600 Index was down 0.1% at close in Paris, after it rallied on Friday on growing optimism that negotiations in the US capital would be successful. Energy shares outperformed, while banks and autos declined. Spanish equities edged lower after Prime Minister Pedro Sanchez called a snap election in the wake of losses for his Socialist party in regional and local voting on Sunday. Turkish stocks jumped a day after President Recep Tayyip Erdogan sealed his victory in a runoff election.