European Stocks Stagnate Amid Political Uncertainty and Market Weakness

European stock markets were flat as investors assessed the likelihood of a hung parliament in France following the left alliance's unexpected electoral advance. Weak energy stocks and disappointing German export data also impacted the market. Meanwhile, individual stocks like Britvic and Grifols saw significant movements due to corporate deals.

European shares remained flat on Monday as investors considered the implications of a potentially hung parliament in France following the left alliance's unexpected success in the elections. The pan-European STOXX 600 index concluded at 516.43 points, with energy stocks dragging it down by 1.1% due to a decline in crude prices.

France's political landscape contributed to the market unease, as French stocks fell 0.6%, marking early gains after a strong showing by the left-wing coalition. BNP Paribas and SocGen shares also declined, losing 1.7% and 1.2%, respectively.

Other notable market movements included a 9.7% jump in Grifols' shares after a joint takeover bid was announced by the Grifols family and Brookfield. Britvic saw a 4.4% increase following an acquisition bid by Carlsberg. Meanwhile, Delivery Hero faced a 7.1% drop owing to potential antitrust fines.

(With inputs from agencies.)