European stocks muted as US-Iran peace talks called off

EUROPEAN shares were muted on Friday (Jun 19) as investors shunned riskier assets after US-Iran negotiations to end the Middle conflict were called off.

The pan-European Stoxx 600 index dipped 0.1 per cent by 0711 GMT, with losses in miners and utilities offsetting gains in energy and defence stocks.

European stocks stalled as Switzerland said US talks with Iranian negotiators would not take place on Friday, as Vice-President JD Vance dropped plans to travel to the country, adding to uncertainty whether a lasting truce can be found.

The stocks had rallied to record highs earlier this week, driven by signs of progress in the US-Iran peace talks and a gradual reopening of the Strait of Hormuz, a vital artery for global energy supplies.

On the day, Entain climbed 1.7 per cent after Reuters reported the Ladbrokes-owner has begun exploring options for its joint venture in Central and Eastern Europe, including a possible sale.

ASML dipped 1.8 per cent after Bloomberg reported US Commerce Secretary Howard Lutnick told the company that Washington is concerned that one of its top chipmaking machines may have found its way to China in violation of US-led export restrictions. REUTERS