Key facts
- Global oil prices declined as progress in US-Iran negotiations eased supply disruption fears.
- Brent crude prices declined 1.6% to trade below $80 per barrel.
- Mediators Qatar and Pakistan reported progress on a roadmap for a final deal and safeguarding shipping through the Strait of Hormuz.
- Tehran secured waivers for oil and petrochemical exports, release of some frozen assets, and a reconstruction plan.
European shares were muted as investors assessed the latest round of U.S.-Iran negotiations, which concluded with progress on a roadmap for a final deal and safeguarding shipping through the Strait of Hormuz. Brent Crude prices declined 1.6%, trading below $80 per barrel, as fears of supply disruptions eased. Mediators Qatar and Pakistan reported the agreement between Washington and Tehran.
The pan-European STOXX 600 index edged 0.05% higher, with tech stocks leading sectoral gains. Chipmaker Infineon and semiconductor equipment maker Aixtron saw their stocks rise.
In corporate news, easyJet shares rose following a takeover offer from U.S. investment firm Castlelake. Danone shares slipped after the French food giant announced its acquisition of Australian company MADE Group. Babcock, a UK defence and engineering group, saw its stock drop after reporting a decline in annual profit due to a frigate charge.