holiday effect-European stocks slip in thin volumes

MarketWatch-European stocks kicked off the week in slightly negative territory on Monday, with market holidays in the U.S. and U.K. denting trading volumes.

The Stoxx Europe 600 index SXXP, -0.09%  fell 0.1% to 390.96, setting the pan-European index on track for a third straight day of losses.

The index fell on Thursday and Friday, with oil and gas shares leading the charge lower after disappointing over OPEC’s decision to extend its production accord, but not deepen the cuts. Crude oil CLN7, -0.34%  tumbled 4.8% after the call on Thursday, but rose on Friday and continued to recover on Monday. The July contract was up 0.1% at $49.85 a barrel.

Stock movers: Shares of Intesa Sanpaolo SpA ISP, -1.45%  lost 1.6% as the Financial Times reported that the Italian bank is set to close branches and cut costs in a strategy shift.

In the U.K., British Airways said it had resumed almost all flights after a major IT outage over the weekend left all their flights leaving from Heathrow and Gatwick airports grounded.

There was no trading in shares of BA-owner International Consolidated Airlines Group IAG, -0.32% ICAGY, -1.91%  due to the U.K. holiday.

Indexes: Germany’s DAX 30 index DAX, -0.12%  was flat at 12,593.06, while France’s CAC 40 index PX1, -0.26%  lost 0.2% to 5,325.84.

The U.K.’s FTSE 100 index UKX, +0.40%  was closed for trading due to the spring bank holiday. U.S. stock markets were also closed for Memorial Day.

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