FTSE, CAC drop amid holiday-thinned markets

The sentiment on the European equity markets remained calm, with only London and French markets open for trading, while rest of Europe enjoys Whit Monday holiday. Hence, a quiet trading calendar and low volumes kept the trading activity largely subdued.

Moreover, markets failed to benefit from the ongoing bullish momentum seen in the oil prices and remained cautious heading into a data-heavy week ahead.

The rest of this week sees the UK and US inflation numbers for April, due out on Tuesday, while UK labor market data and the euro zone's inflation are out on Wednesday. The minutes from the most recent Fed meeting will be in focus on Wednesday as well.

Meanwhile, The UK's FTSE 100 index fell -0.25% to trade at 6,123, while the French CAC 40 index dropped -0.78% to 4,286.