French shares drifted lower on Monday after a deal to freeze oil output by OPEC and non-OPEC producers fell apart amid a spike in tensions between Saudi Arabia and Iran.
That said, stocks recouped some early losses as oil prices recovered from the day's lows after falling as much as 7 percent in early Asian deals.
The benchmark CAC 40 was down 25 points or 0.58 percent at 4,469 in midday trading after hitting as low as 4,425 earlier in the day.
Among the prominent decliners, Carrefour, AXA Group, Orange, Schneider Electric and Vivendi fell over 1 percent each. Total SA shares dropped 1.5 percent.
Airline Air France-KLM advanced 1.7 percent on optimism that falling oil prices will push jet fuel prices lower.
Vinci traded flat on bagging a contract for the construction of the Cairo metro.
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