On the bourses front, the U.K.'s FTSE 100 ended in the black, up 0.34 percent, boosted by slight weakness in the British pound.
France's CAC 40 failed to hold onto gains, closing 0.03 percent down, while Germany's DAX ended 0.15 percent lower, with a sharp decline in Dialog Semiconductor's shares weighing on the index. In peripheral Europe, Italy's FTSE MIB closed 1.15 percent down.
On Monday, telecoms were Europe's top performing sector, closing up more than 1 percent. This followed news that Softbank and Saudi Arabia's main sovereign wealth fund raised $93 billion to invest in technology, including artificial intelligence and robotics.
In chemicals, Clariant was one of the biggest talked-about stocks on Monday after the Swiss group announced an all-stock deal to merge with the U.S.-based Huntsman Corp., creating a chemicals giant worth over $14 billion. Despite rising as much as 9 percent in earlier trade, Clariant pared some of its gains to close up 3.45 percent.
The manufacturing company Lafargeholcim appointed Jan Jenisch as its new chief executive officer, which sent the company's shares over 6 percent higher.
Insurer Aegon ended trade at the top of the STOXX 600, finishing 6.5 percent up, after agreeing to sell some of its U.S. business to boost its balance sheet.