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European markets closed flat to lower on Monday, with investors cautious ahead of the U.S. Federal Reserve's interest rate decision on Thursday.
Despite earlier gains on Monday, the pan-European STOXX 600 ended the day down around 0.6 percent.
The German DAX index managed to hold onto some gains, finishing around 0.1 percent higher, while most of its European counterparts closed flat or lower.
Investors across the globe are gearing up for the Fed's latest policy meeting and interest rate decision, due on Thursday.
Investors are divided as to whether this meeting could be the one at which the Fed raises short-term rates for the first time in more than nine years. Volatility in global markets and renewed concerns about China have flagged concerns for some about raising rates this month.
Consequently, U.S. stocks remained vigilant on Monday, with stocks trading mostly lower.
In Asia overnight, stocks mostly edged down in cautious trade, as traders digested a slew of Chinese data released over the weekend that showed growth in China's fixed-asset investment and industrial production missed expectations in August.
The banking sector was in focus on Monday with news coming from some of Europe's biggest names.
Germany's Deutsche Bank saw shares finish 0.5 percent higher after media reports that it was planning to cut roughly 23,000 jobs, or one-quarter of total staff, mainly by spinning off its PostBank division.
Separate media reports on Monday suggested the bank had decided to close all its Russian operations, bar transaction banking services.
At the weekend, the bank said the chair of its Russia unit would quit Moscow for Germany. His departure comes as the unit faces a bribery probe from the U.S. Department of Justice, focused on allegations of senior staff taking bribes and suspicious share trades.
Meanwhile, shares in Credit Suisse closed 1.6 percent lower after Swiss newspaper Schweiz am Sonntag reported that the bank was looking to sell its U.S. private bank.
Miners and commodity firms kept investors on their feet Monday, after Chinese data missed expectations, reinforcing worries about demand and China's growth.