European stocks are falling ahead of a busy week of corporate earnings

European stocks fell on Monday, tracking their Asian counterparts, as investors await more economic data this week and the results of some major US companies, as well as prominent banks and consumer companies in Europe.

The European STOXX 600 index fell 0.2 percent by 0710 GMT, while oil and gas stocks were the biggest losers, down 1.1 percent, affected by a drop in oil prices by more than 1 percent on Monday, amid concerns about rising interest rates.

Health care stocks rose 0.4 percent, led by Philips NV, which jumped 10.8 percent after the Dutch health technology group published better-than-expected first-quarter results.

Investors are closely awaiting the results of some of the most valuable US companies, including Microsoft , Alphabet, the parent company of Google and Amazon, which are expected this week.

At home, it is expected that the results of large banks such as Barclays, Santander and Deutsche Bank and consumer companies such as Nestle, Reckitt and Unilever will be released this week.