16.10.201721:07:00UTC+00European Markets Mixed as IBEX Drops on Catalonia Crisis

European markets finished mixed on Monday as investors focused on the political news coming out of Spain, the U.K. and Austria.

The pan-European Stoxx 600 was flat, with majority of the sectors in the red.

Spanish stocks fell behind its peers amid the Catalonia crisis. The country's index IBEX dropped 0.7 percent. Banks Caixa, Sabadell and BBVA took a toll, declining between 1.7 and 2.8 percent. Siemens Gamesa was the top decliner, lower by 6.3 percent after it warned on profit last Friday.

Utility stocks were the worst performers, pressured by tariff reductions. The Portuguese EDP dropped around 4.7 percent after the watchdog reduced rates for 2018-2020.

Basic resources were the best performing stocks following the release of upbeat data from China. The country saw producer price growth hitting a six-month peak in September.

Higher metal and crude oil prices supported the wider market, driving heavyweight mining stocks like Glencore , Rio Tinto and BHP up between 0.8 and 1.5 percent.

Top decliner on STOXX was British medical technology firm ConvaTec, which plunged 26.6 percent after it trimmed its full-year organic revenue growth forecast.

France's Ipsen advanced 6.1 percent after posting upbeat news on a liver cancer clinical trial. French retailer Carrefour also edged up 0.8 percent after it announced that former Fnac Darty Chief Financial Officer Matthieu Malige would be its new CFO.

Shares of Eurotunnel climbed around 1.8 percent, following an upgrade by Goldman Sachs.