European shares were muted on Friday as investors shunned riskier assets after U.S.-Iran negotiations to end the Middle conflict were called off.The pan-European STOXX 600 index dipped 0.1% by 0711 GMT, with losses in miners and utilities offsetting gains in energy and defense stocks.European stocks stalled as Switzerland said U.S. talks with Iranian negotiators would not take place on Friday, as Vice President JD Vance dropped plans to travel to the country, adding to uncertainty whether a lasting truce can be found.The stocks had rallied to record highs earlier this week, driven by signs of progress in the U.S.-Iran peace talks and a gradual reopening of the Strait of Hormuz, a vital artery for global energy supplies.On the day, Entain climbed 1.7% after Reuters reported the Ladbrokes-owner has begun exploring options for its joint venture in Central and Eastern Europe, including a possible sale.ASML dipped 1.8% after Bloomberg reported U.S. Commerce Secretary Howard Lutnick told the company that Washington is concerned that one of its top chipmaking machines may have found its way to China in violation of U.S.-led export restrictions.
Global Markets | European stocks muted as US-Iran peace talks called off
European stock markets dipped slightly on Friday, reflecting investor caution after the abrupt cancellation of U.S.-Iran peace negotiations. This setback contributed to the existing cloud of uncertainty regarding future stability. Earlier in the week, hopes had sparked a market rally, particularly boosting companies like Entain, while ASML faced headwinds from concerns about new export regulations.
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