European shares muted as investors eye US-Iran talks

European shares were subdued at open on Tuesday, as ‌investors awaited developments on potential US-Iran talks, while oil prices gained for the first time in five sessions.

The pan-European STOXX 600 was ‌flat at 642.32 points by 0710 GMT. Most regional bourses ‌were also muted. Energy stocks gained 0.4% tracking a rise in oil prices as investors awaited developments on potential US-Iran talks at the United Nations General ⁠Assembly ​this week after more ⁠supplies emerged through the Strait of Hormuz over the weekend.

Retail shares were ⁠a bright spot, up 1.3%, boosted by gains in Kingfisher after the ​European home improvement retailer raised its full-year profit guidance after ⁠reporting a 9.9% increase for the first half of the year. On the other ⁠hand, ​insurance shares dipped roughly 1%, pressured by losses in ASR Nederland and AXA .

Market participants awaited euro zone consumer ⁠confidence data, due later in the day. Among individual stocks, Italy's Snam was ⁠down 0.2%. The ⁠gas grid operator announced sale of 10 million Industrie De Nora shares for €67 million ($76.8 million).

Plus500 was down ‌4.9%. ($1 = ‌0.8725 euros)