Stock indices traded lower as the weekend's debt talks between Greece and its creditors were unsuccessful. An EU Commission official said that there are still big differences between the Greek reform plan and the demand of the creditors.

European Commission President Jean-Claude Juncker noted that a new debt deal could be reached until the end of the month.

The next round of talks is scheduled to at the finance ministers' meeting this Thursday in Luxembourg.

Germany' Bundesbank President Jens Weidmann said on Monday that time is running out for Greece to reach a new debt agreement with its creditors. He added that Athens should act quickly.

Meanwhile, Eurostat released its trade data for the Eurozone on Monday. Eurozone's unadjusted trade surplus rose to €24.9 billion in April from €22.9 billion in March. March's figure was revised down from a surplus of €23.4 billion.

Exports climbed by seasonally adjusted rate of 1.1%, while imports declined 1.6%.

Current figures:

Name Price Change Change %

FTSE 100 6,732.83 -52.09 -0.77 %

DAX 11,042.87 -153.62 -1.37 %

CAC 40 4,851 -50.19 -1.02 %