Ferrari began its first day of trading on the Milan stock exchange Monday, opening at 43 euros per share. The luxury carmaker closed 0.5 percent up, however, its parent Fiat Chrysler slipped 4.8 percent, after spinning off its stake in Ferrari.
The basic resources sector got little reprieve in the new year as commodity prices continued to come under pressure, especially amid concerns over the Chinese economy. Anglo American ended down over 7 percent, with Glencore and Antofagasta closing off more than 5 percent each.
A tick-up in oil prices did little to help stocks in the sector, with most trading lower, however Tullow Oil bucked the trend, with shares finishing up over 2.5 percent.
Both Brent crude and U.S. light crude were top performers throughout trade but came under pressure in late trade, with Brent trading last at $37.01 and U.S. crude at $36.60. The downside move came after reports of a rise in crude inventories at the Cushing, OK delivery point for U.S. crude's West Texas Intermediate contract, but those reports could not immediately be verified, according to Reuters.