European stocks ended little changed Monday as higher oil prices offset gains in energy sectors. The Stoxx Europe 600 Index held steady in London, buoyed by climbing commodity prices following US and Iranian tanker strikes. However, the media and insurance sectors lagged significantly.

Shares of Novartis AG fell after the pharmaceutical giant reported failure in a late-stage heart drug trial. Oil companies benefited from the geopolitical tension, while broader market sentiment remained cautious. The failure of Novartis' cardiac treatment added pressure to healthcare stocks already under scrutiny.

Markets awaited further clarity on global energy supplies and regulatory developments. Trading volumes were light as investors digested mixed earnings and macroeconomic signals from across the continent.