Key facts
- European shares edged higher as reports of U.S.-Iran mediation efforts pushed oil prices lower.
- Oil prices eased from one-month highs after reports of mediation efforts.
- Technology stocks rose 1.4%, led by ASMI and ASML.
- Miners climbed 1.4% tracking an uptick in copper and gold prices.
- Julius Baer shares dipped 2% despite reporting stronger-than-expected first-half net new money inflows.
European shares edged higher on Tuesday as reports of diplomatic efforts between the United States and Iran pushed oil prices lower, though concerns over energy supply disruption cushioned losses. The pan-European STOXX 600 index rose 0.3% to 641.39 points by 0704 GMT.
Oil prices eased from one-month highs after reports of mediation efforts, though Yemen's Iran-aligned Houthis announced a blockade of Saudi Arabia on Monday. Investors are also watching for fresh corporate earnings to gauge the impact of geopolitical conflict.
Technology stocks rose 1.4%, led by ASMI and ASML, which gained 2.5% and 3%, respectively. Miners climbed 1.4% tracking an uptick in copper and gold prices. Julius Baer shares dipped 2% despite the Swiss bank reporting stronger-than-expected first-half net new money inflows.