Global Equity Market Rally Tops New Heights

European stocks drifted lower Monday in thin trading owing to market holidays in Germany and Switzerland with investors treading cautiously amid multi-year and all-time highs in global equities and escalating tensions between Qatar and its Gulf region neighbors.

The region-wide Stoxx Europe 600 index, the broadest measure of share prices, was marked 0.1 higher in the opening hour of trading, although bank stocks lead declines in France, Spain and Italy. Markets in Germany and Switzerland, however, remain closed for Whit Monday holiday observances. The CAC-40 was seen around 0.23% lower in the opening hour while Italy's FTSE MIB and Spain's IBEX were marked about 0.65% lower.

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European Stocks Drift Lower, Banks Lead Slide in Holiday-Thinned Markets

This article was written by a staff member of TheStreet.