GLNCY Glencore Plc (PK)

Global stocks slipped on Monday following a week of gains for most major indexes, with weak commodity prices taking their toll on the energy and mining sectors.

The Stoxx Europe 600 was down 0.5% in early trade after adding 3.3% last week,

Brent crude oil was down 1.8% at $43.84 a barrel amid concerns about oversupply, putting pressure on shares in energy companies. Other commodities stocks under pressure too, with three-month copper prices falling to a six-and-a-half year low in early trading. The FTSE 350 mining index was down 3.1%. Shares in Glencore were down 5.3%.

In Asian trade, Australia's S&P/ASX 200 was up 0.4% amid optimism about its economy. The Shanghai Composite fell 0.6%. Markets in Japan were closed for a holiday.

Wall Street stocks ended higher Friday, as the S&P 500 saw its largest weekly gain in nearly a year.

Investors shook off initial fears following terror attacks in Paris and Mali to focus on the latest clues from central banks. Minutes from last month's Federal Reserve meeting helped clarify the path for U.S. interest rates, with Federal Reserve Bank of San Francisco President John Williams making the case on Saturday for a rate increase in December. Minutes from the European Central Bank's latest policy-setting meeting further firmed up expectations for more stimulus.

For the week, the Dow Jones Industrial Average gained 3.4%, and the S&P 500 gained 3.3%.

Still, for the year, "The S&P is up just a tiny amount, and that could easily be wiped out by one day's move," said Sanjiv Shah, chief investment officer at Sun Global Investments Ltd, which has $470 million in assets under management.

Gains this year have primarily been driven by a few individual companies and consolidation in sectors such as pharmaceuticals, Mr. Shah said.

In corporate news, Pfizer Inc. and Allergan PLC agreed on a historic merger deal worth more than $150 billion that would create the world's biggest drug maker. The boards of each company ratified the deal Sunday and it could be announced Monday, according to people familiar with the matter.

In currencies, the euro was down 0.2% against the dollar at $1.0627 ahead of the release of eurozone manufacturing data.

The dollar was up 0.3% against the yen at Y123.18.

In commodities, gold was down 0.6% at $1,070 an ounce.

Write to Riva Gold at riva.gold@wsj.com

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(END) Dow Jones Newswires

November 23, 2015 04:25 ET (09:25 GMT)

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