European stock markets settled lower on Monday as the euro rallied after comments about the shared currency by German Chancellor Angela Merkel.

UK's benchmark index FTSE 100 went up to 25.63 points or 0.34 percent to close at 7,496.34. Germany's benchmark index DAX declined 19.23 points or 0.15 percent to end at 12,619.46. French benchmark index CAC 40 declined 1.52 points or 0.03 percent to end at 5,322.88.

On the other hand, Europe's leading Blue-chip index, EURO STOXX 50 dropped 10.48 points or 0.29 percent to end at 3,576.53.