Stocks in Europe slipped Monday, with losses among Italian banks helping to hand the pan-European benchmark its first loss in four sessions.

Stoxx Europe 600 SXXP, -0.74% dropped 0.7% to end at 329.78.

Italy's Banca Monte dei Paschi di Siena SpA BMPS, -13.99% closed down 14%. The move came after a report that the European Central Bank is pushing the lender to draft a new plan aimed at reducing non-performing loans.

Equities have been clawing back Brexit-fueled losses, as the U.K. government has yet to start formal talks about its terms in exiting the European Union after last month's referendum.

Asian shares snapped a five-day winning streak on Tuesday as investors took stock of a rally driven by hopes that central banks will provide more stimulus to offset a likely downturn triggered by Brexit.

MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS fell 0.7 percent, but was still within reach of its June 9 peak, having risen 5.6 percent from its low after the Brexit vote on June 23.

Japan's Nikkei .N225 dropped 0.9 percent.

Chinese shares rose, with the CSI 300 .CSI300 up 0.3 percent, while the Shanghai Composite .SSEC added 0.6 percent, buoyed in part by a private business survey which showed growth in the services sector jumped to an 11-month high. But Hong Kong's Hang Seng .HSI retreated 0.8 percent.

But trade was thin, with financial and commodities markets in the United States closed on Monday for Independence Day.