European equity markets showed little direction on Monday as investors weighed the lack of progress in negotiations between the United States and Iran, raising concerns that disruptions to key oil supply routes could persist.
By 07:02 GMT, the Stoxx Europe 600 was flat, while the FTSE 100 also held steady. Germany’s DAX advanced 0.3%, and France’s CAC 40 gained 0.2%.
Over the weekend, Donald Trump cancelled plans to send negotiators to Pakistan for renewed discussions with Iran, stating that Tehran can “call me” as the U.S. holds “all the cards.”
The deadlock points to a likely continuation of shipping restrictions imposed by both sides in the Strait of Hormuz, a strategic passage responsible for around one-fifth of global oil flows, despite the presence of a fragile ceasefire.
However, Axios reported that Iran has put forward a fresh proposal to Washington aimed at reopening the strait, ending hostilities, and postponing nuclear negotiations.
In company news, Nordex SE (TG:NDX1) jumped more than 9% in early trading after reporting first-quarter underlying earnings ahead of expectations.
Meanwhile, Forvia (EU:FRVIA) announced the sale of its interiors division to Apollo for €1.82 billion, sending its shares up over 3%.
Leave a Reply