Stock indices traded lower as oil prices dropped again. Oil prices fell on concerns over the global oil oversupply.

European Central Bank (ECB) President Mario Draghi said on Monday that the central bank will fulfil its mandate in reaching 2% inflation target.

"Meeting our objective is about credibility. If a central bank sets an objective, it can't just move the goalposts when it misses it. Confidence comes from every party fulfilling its mandate. And that's what the ECB will do," he noted.

Draghi also said that there are "no warning signs of serious financial instability".

Current figures:

Name Price Change Change %

FTSE 100 5,826.07 -50.93 -0.87 %

DAX 9,669.69 -66.46 -0.68 %

CAC 40 4,280.05 -31.28 -0.73 %