European shares flat as investors await US-Iran talks; oil rises

  • European shares opened subdued as investors awaited potential US-Iran talks.
  • The STOXX 600 was flat at 642.32 points by 0710 GMT.
  • Kingfisher raised full-year profit guidance after a 9.9% first-half increase.

European shares opened little changed on Tuesday as investors awaited developments on potential US-Iran talks at the United Nations General Assembly this week. The pan-European STOXX 600 was flat at 642.32 points by 0710 GMT, while most regional bourses were also muted. Oil prices rose for the first time in five sessions after more supplies moved through the Strait of Hormuz over the weekend, lifting energy stocks 0.4%. Retail shares advanced 1.3%, led by Kingfisher after the European home improvement retailer raised its full-year profit guidance following a 9.9% increase in first-half results. Insurance shares fell about 1%, pressured by losses in ASR Nederland and AXA. Investors also awaited euro zone consumer confidence data due later in the day. Italy's Snam slipped 0.2% after the gas grid operator announced the sale of 10 million Industrie De Nora shares for €67 million ($76.8 million), while Plus500 fell 4.9%.

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