Brussels, November 17 (QNA) – European stocks closed lower Monday.

The pan-European Stoxx 600 index closed down 0.5 percent at 571.68 points.

Major regional indices declined, including Germany's DAX, which fell 1.2 percent.

Britain's FTSE 100 closed down 0.2 percent at 9,675.30 points.

France's CAC 40 lost 0.63 percent to close at 8,119.02 points.

Shares of European luxury goods companies fell, including British luxury goods giant Burberry, which dropped 6.6 percent, and French luxury goods conglomerate LVMH, which declined 2 percent.

Financial sector stocks, including banks and insurance companies, weighed on the STOXX index today.

Saab's shares rose 2.5 percent after the company signed a 3.1 billion euro ($3.62 billion) fighter jet deal with Colombia. (QNA)