Europe close: Stocks end on mixed note

European shares finished on a mixed note on Monday as investors fretted about political instability in Russia after an aborted “mutiny” by a former key ally of president Vladimir Putin, and German business sentiment fell further in June.

"An armed rebellion in a G20 state has failed to move markets in any meaningful way, not least because the rebellion itself barely lasted half the weekend," said IG chief market analyst Chris Beauchamp.

"While it leaves open the possibility of more disruption, the net effect on markets so far has been limited to say the least. The selling seen on Friday has not had much follow-through, and Q2 may well end on a subdued note despite renewed inflation worries."

The pan-European Stoxx 600 index was down 0.10% to 452.68, alongside a 0.11% dip for Germany's Dax to 15,813.06 although the Cac-40 added 0.29% to 7,184.35.

In economic news, German business sentiment deteriorated more than expected in June, according to a survey released on Monday by the Ifo Institute.

The business climate index fell to 88.5 from 91.5 in May, coming in below consensus expectations of 90.7.

The expectations index declined to 83.6 in June from 88.3 the month before - the lowest level since November 2022 - while the current situation index printed at 93.7, down from 94.8.

The manufacturing index fell to -9.9 in June from -0.6 in May, while the service sector gauge was 2.7, down from 6.8. The index for trade slipped to -20.2 from -19.1 and the construction index deteriorated to -20.1 from -18.5.

In equity news, shares in SBB surged as the Swedish property company said it was selling the remaining 51% of its education unit.