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IRAN WAR IMPASSE CONTINUES, EUROPEAN STOCKS MIXED

European equity indexes were struggling for firm direction on Monday, as the U.S. and Iran strain to find enough common ground to reopen peace negotiations.

U.S. President Trump rejected Iran's counterproposal to end the 10-week conflict, meaning that shipping through the Strait of Hormuz remains effectively paralysed.

The weekend (in)action has lifted crude prices LCOc1 but global equities are mostly shrugging.

The pan-continental STOXX 600 .STOXX is unchanged on the day. Britain's FTSE 100 .FTSE is up 0.2%, helped by the energy sector, while Germany's DAX .GDAXI is a touch softer.

France's CAC 40 .FCHI underperforms as luxury stocks and other consumer-facing sectors take a hit.

Defence stocks .SXPARO are also lagging, while technology .SX8P shares outperform.

Delivery Hero DHER.DE shares top the STOXX 600 after Aspex upped its stake in the company by buying shares from Prosus at a more than 20% premium.

Here's your opening snapshot:

(Samuel Indyk)

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