The STOXX 50 slipped 0.3% and the STOXX 600 fell 0.4% on the first trading day of December, as traders began the month with a cautious tone following a choppy November that ended with only modest gains for both indexes. Industrials were the worst-performing sector. Airbus dropped more than 2% after announcing on Friday that it would initiate immediate repairs on 6,000 aircraft from the A320 family, a sweeping recall affecting more than half of the global fleet. Defense stocks were also under pressure, including Rheinmetall (-2.5%) and Leonardo (-1.5%), as investors monitored progress toward a potential Ukraine peace deal ahead of US Special Envoy Steve Witkoff’s visit to Moscow for talks with President Vladimir Putin and other Kremlin officials. On the positive side, ASML Holding (+2.6%) and Repsol (+1.3%) posted strong gains.