European stocks cut into earlier losses on Monday afternoon as markets weigh an economic recovery from the coronavirus pandemic and ongoing global protests against racism. The pan-European Stoxx 600 hovered 0.2 percent below the flatline in afternoon trade. Autos and banks jumped more than 2 percent to lead gains while financial services stocks slid 1.7 percent. In terms of individual share price action, German pharmaceutical and laboratory equipment supplier Sartorius saw its shares slide 10.6% to the bottom of the Stoxx 600 in early deals, while cruise operator Carnival jumped 14% to lead the European blue chip index.