European shares were muted at the open on Monday as investors assessed the latest round of U.S.-Iran negotiations for signs of progress toward resuming shipping through the Strait of Hormuz, a critical artery for global oil trade. Brent Crude prices declined 1.6%, and were trading below $80 per barrel after mediators Qatar and Pakistan said that Washington and Tehran had agreed on a roadmap for a final deal and measures to safeguard shipping through the Strait of Hormuz. Tehran had declared the waterway closed on Sunday, casting doubt on the ceasefire's sustainability.The pan-European STOXX 600 index edged 0.05% higher to 635.92 points by 0711 GMT. Tech stocks led sectoral gains, rising 1.2%, with chipmaker Infineon and semiconductor equipment maker Aixtron gaining 4.5% and 2.3%, respectively, tracking advances in Asian equities.In M&A activities, shares of budget airline easyJet rose 2.3% after U.S. investment firm Castlelake went public with a £4.74 billion ($6.26 billion) offer. Danone shares slipped 0.4% after the French food giant said it will acquire Australian company MADE Group for an undisclosed amount. Among other movers, the UK's defence and engineering group Babcock dropped 3.3% following a sharp decline in its annual profit on a £140 million frigate charge.
European shares muted as investors weigh U.S.-Iran talks
European markets showed little movement as investors weighed U.S.-Iran talks for progress on Strait of Hormuz shipping. Brent crude dipped below $80 as mediators reported a roadmap for a deal. Tech stocks, led by chipmakers, saw gains, while easyJet shares climbed on a takeover offer. Danone's acquisition plans and Babcock's profit drop also influenced trading.
TL;DRAI
U.S.-Iran deal roadmap pushed Brent 1.6% below $80/barrel; STOXX 600 +0.05%, tech +1.2% led by Infineon (+4.5%) and Aixtron (+2.3%). Energy relief aids enterprise TCO while chip gains signal sustained AI/data-center capex confidence.
200 words~1 min read
