European markets close higher; Oil and gas stocks retreat; Philips shares down 16%

This was CNBC's live blog covering European markets.

European markets closed higher Monday, gaining ground through the afternoon as investors reviewed the geopolitical situation in the Middle East.

The pan-European Stoxx 600 provisionally ended the session 0.47% higher after some choppiness earlier on.

Media and construction stocks added 1.6% and 2%, respectively, while oil and gas stocks fell 1.4%, tracking oil prices lower.

Shares of Dutch medical devices giant Philips closed nearly 17% lower. The company on Monday said it was cutting its full-year sales outlook due to weak demand from China.

Market participants are digesting a cooling geopolitical situation in the Middle East Monday, after weekend airstrikes by Israel against Iran did not target oil or nuclear facilities as feared. Oil prices slid more than 6%, although Citi analysts discounted the chance of an escalation that disrupts oil supplies.

U.S. stocks opened higher as investors looked ahead to a batch of mega-cap technology earnings to keep driving the Nasdaq Composite to new heights this week.

In the Asia-Pacific region on Monday, Japan's benchmark Nikkei 225 and its Topix index climbed, supported by a weak yen amid political uncertainty as the ruling LDP lost its parliamentary majority.

European stock markets closed broadly higher Monday, with the Stoxx 600 index moving past a negative week to gain nearly 0.5% through the session.

France's CAC 40 index closed 0.79% higher, boosted by luxury stocks. The U.K.'s FTSE 100 and Germany's DAX rose 0.45% and 0.34%, respectively.

— Jenni Reid

Aerospace manufacturing firm Melrose Industries topped the Stoxx 600 index in afternoon deals, with shares trading more than 9% higher after the company released an update on its