European stocks followed most Asian markets lower on Monday as oil prices plunged after a meeting of oil producing nations ended on Sunday without a deal to curb production.

Saudi Arabian officials at the meeting in Doha were blamed for the impasse after reportedly refusing to curb production without Iran signing up to the deal. West Texas crude was recently down 5.5% at $38.13 per barrel, while oil companies including BP (BP - Get Report) , Royal Dutch Shell and Total (TOT - Get Report) also fell.

In London the FTSE 100 was recently down 0.54% at 6,309.32. In Frankfurt the Dax was down 0.43% at 10,008.76 and in Paris the Cac 40 fell 0.74% at 4,462.58

S&P 500 mini futures were recently down 0.49%.

 

Stock Spirits   (SPPGF) was recently down more than 4% in London after the central and eastern Europe-focused spirits maker said CEO Chris Heath had stepped down. The move handed a victory to Luis Amaral, the group's biggest customer and leading shareholder, who had hoped to oust Heath a May 23 shareholders' meeting.

 

Also in London, Energy Assets surged 39% to 677.50 pence after agreeing to a £198 million ($280 million), or 685 pence per share, takeover from Alinda Capital Partners.

Gas supplier Centrica (CPYYY) (CPYYF) was down 2.2% after news of an outflow of domestic energy customers in the first quarter.

 

J Sainsbury (JSAIY) (JSNSF)  , Britain's second-largest food retailer, was down marginally after Sky New reported that leading shareholder Qatar Investment Authority teamed with CVC Capital Partners and Brookfield Asset Management (BAM - Get Report) had been planning a bid for the grocer before Sainsbury decided to make an offer for Home Retail Group, the owner of the Argos variety-store chain.

And second-ranked British pharmaceuticals maker AstraZeneca (AZN - Get Report) held firm after the Sunday Times reported that it had held internal talks about making a bid for Calif.-based cancer drug specialist Medivation (MDVN) which has a market value of $8.4 billion.

 

Caixabank, of Spain, was down 2.6% in Madrid after announcing plans to bid for the outstanding 56% stake in Banco BPI, of Portugal, whose shares are suspended.

Real estate company CA Immobilien Anlagen  rose 6.9% in Vienna to €18.65 after Austrian peer Immofinanz bought a 26% stake from a key shareholder at €23.50 and bid for the rest. Immofinanz was recently up about 2.1%.

 

In Tokyo the Nikkei 225 slumped 3.40% to close at 16,275.95 and the Topix dropped 3.03% to close at 1,320.15 as markets reopened after two powerful earthquakes struck southern Japan and after the yen rose, hurting the outlook for exporters, as investors sought a safe haven after the disappointment of the Doha meeting.

 

Sony (SNE - Get Report) closed down 6.8% and Toyota Motor   (TM - Get Report) fell 4.8% after warning that the earthquakes had disrupted production.

 

In Hong Kong the Hang Seng closed down 1.23% at 1,320.15. On mainland China the CSI 300 closed down 1.24% at 3,229.99 .