European stocks closed lower for a sixth session on Monday on further pressure from high energy prices and its impact on the macroeconomic backdrop for major companies. The Eurozone's STOXX 50 dropped 0.4% to 5,861 and the STOXX 600 fell 0.3% to 609. Reports suggested Iran has presented the US with a new proposal aimed at reopening the Strait of Hormuz and ending the conflict, while postponing nuclear negotiations to a later stage. Still, flows through the chokepoint were halted and energy prices maintained their higher level. The pro-inflationary risks are expected to make the ECB a hawkish tilt in their rate hold this week, with multiple rate traders pricing a hike still this quarter. Tech shares sank, with ASML and Prosus dropping 3% and 2%, respectively. Also, Siemens Energy sank 5.5% to trim its rally from last week.