European stocks closed down on Monday as leadership changes in Italy and Greece failed to have a lasting impact on investor sentiment. The FTSE 100 reversed its 0.5% gain and instead closed down 0.5% at 5,519 points, In France the CAC40 lost 1.2%, while the German DAX fell 1%.
Although markets had welcomed the appointment of former European Commissioner Mario Monti to replace Silvio Berlusconi in Italy, the rises were short lived.
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