Stability of European stocks amid concerns about the US debt ceiling

European stocks were little changed at the open on Monday, while concerns over an agreement on the US debt ceiling and the outlook for US and European monetary policies weighed on sentiment.

The pan-European Stoxx 600 index settled after touching its highest level in more than a year on Friday.

The banking and mining sectors were among the biggest losers, while healthcare stocks rose.

Germany’s DAX blue-chip index fell 0.1 percent, after hitting an all-time high in the previous session.

Shares of European chipmakers came under pressure after China’s cyberspace regulator said products from US memory chip maker Micron Technology had failed a network security review and would prevent major infrastructure operators from buying from the company.

Shares of Infineon Technologies, STMicroelectronics and ASM International declined.

Novo Nordisk rose 2.3 percent after research showed that taking its new obesity drug could help reduce the risk of heart disease as well as promote weight loss.