European Markets Boosted by U.S.-Iran Diplomacy and Earnings Reports

European shares gained on reports of U.S.-Iran mediation efforts, which lowered oil prices. The STOXX 600 index rose despite concerns over energy supplies. Technology and mining stocks saw gains, while Julius Baer shares slipped amid better-than-expected financial results.

European markets saw an uptick on Tuesday as investors reacted to news of potential mediation between the United States and Iran, which contributed to a decline in oil prices.

The pan-European STOXX 600 index rose by 0.3% to 641.39 points, even as energy supply concerns lingered after Yemen's Iran-aligned Houthis imposed a blockade on Saudi Arabia.

In corporate news, technology companies led by ASMI and ASML posted gains, while Swiss bank Julius Baer saw its shares dip despite surpassing expectations with strong net new money inflows in the first half of the year.