European stocks mixed as Iran war uncertainty lingers

European-listed shares struggled to find direction on Tuesday as uncertainty over the resolution of the Iran war weighed on sentiment.

Shortly after the opening bell, the pan-European Stoxx 600 index was flat, while sectors and major regional stock markets showed mixed performance.

Regional stocks ended Monday’s session in broadly positive territory after US President Donald Trump said Washington was having productive talks on a “full and complete solution” to the Iran conflict. The president told CNBC’s Joe Kernen in a later phone interview that he was “very committed to making a deal with Iran.”

However, Tehran later denied any talks with the US.

On Tuesday morning, oil prices, which had fallen sharply following Trump’s comments on Monday, recovered and global benchmark Brent crude futures rose around 1.4% to over $100.

Asian shares followed an overnight rally on Wall Street but pared gains throughout the session. Futures data in the US points to a positive opening on Tuesday as the Iran war remains in focus.

Apart from stocks, gold extended losses on Tuesday, diving further into bear market territory. Spot gold was last traded at $4,386.69 per ounce, down 0.4%.

Economic data from Europe on Tuesday includes a manufacturing PMI print from Germany, S&P Global’s flash manufacturing PMI for the UK and new car registrations in the EU.

In corporate news, beauty conglomerate Estee Lauder He said he was in talks with Spain on Monday night. Puig – Jean Paul Gaultier, owner of Charlotte Tilbury and Rabanne – about a potential merger. Puig shares were last traded up 14.3%.