European shares muted as investors weigh U.S.-Iran talks
European shares muted as investors weigh U.S.-Iran talks
ReutersMon, June 22, 2026 at 7:24 AM UTC
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1 / 0German share price index DAX graph is pictured at the stock exchange in FrankfurtThe German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, June 18, 2026. REUTERS/staff
June 22 (Reuters) - 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 <.SX8P> 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.
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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.
($1 = 0.7571 pounds)
(Reporting by Utkarsh Hathi and Johann M Cherian in Bengaluru; Editing by Rashmi Aich)
Source: “AOL Breaking”
