Investing.com – European stocks were subdued on Friday, with a note of caution infusing sentiment prior to potential weekend negotiations between the U.S. and Iran.
By 03:03 ET (07:03 GMT), the pan-European Stoxx 600 had inched down by 0.1%, the had dipped by 0.1%, the in Germany was mostly unchanged, and the in France edged up by 0.2%.
U.S. President Donald Trump said a fresh round of in-person talks with Iran may take place this weekend, after initial discussions last weekend did not yield a permanent halt to hostilities in the Middle East. Trump flagged that he would consider extending a ceasefire due to end later this month if Washington was close to an agreement with Tehran.
One key sticking point in negotiations took a possible step toward resolution on Thursday, when a pause in fighting between Israel and Lebanon went into effect. Despite the U.S.-Iran ceasefire, Israel has continued to carry out strikes on Iran-aligned Hezbollah militants in neighboring Lebanon.
Both Israel and Lebanon officials confirmed the truce, although Hezbollah did not say whether it would accept it and would instead base its action on “how developments unfold.”
Still, Trump has reiterated his belief that the Iran war, which began in late February, should end soon.
Oil prices sat below $100 a barrel, with traders keeping tabs on hopes for a long-term peace. Following the outbreak of the war, crude briefly surged to as high as $120 a barrel, compared to pre-conflict levels of around $70 a barrel.
Away from the war, European earnings season is beginning to pick up the pace. Shares of fell by more than 3% in early dealmaking, after the Swedish telecoms group posted lower-than-anticipated first-quarter profit.
Meanwhile, in Germany gained more than 2% following ride-hailing giant Uber’s decision to raise its stake in the company.