European Shares Seen Opening Mixed In Cautious Trade

(RTTNews) - European shares are seen opening mixed on Tuesday as negotiations to end the war in Iran continue, with Qatar acting as the most immediate mediator.

Talks are going on and it's a lot of talking back and forth going on about specific language in the initial document, U.S. Secretary of State Marco Rubio said after the U.S. military carried out "self-defense" strikes in southern Iran, including on missile launch sites and boats placing mines.

In a post on Truth Social, U.S. President Donald Trump said he expected Iran to hand over its enriched uranium to the United States to be destroyed, or have it destroyed in Iran with an international witness.

Iran has publicly denied reports that it had agreed to transfer its enriched uranium stockpile abroad, exposing the fragile and uncertain nature of the ongoing talks.

The Israeli military has begun a wave of strikes against Hezbollah in the Bekaa Vally in the east of Lebanon and other parts of the country following an announcement by Prime Minister Benjamin Netanyahu that his country will intensify its attacks on Hezbollah.

Defense forces across the Gulf are on high alert as Iran pressed ahead with waves of missile and drone attacks on the UAE, Kuwait and Bahrain.

Meanwhile, after Trump reignited debate over the Abraham Accords, Pakistan said it would not support any agreement that conflicts with the country's "fundamental ideologies."

Saudi Arabia said it would not normalize relations with Israel unless there is a clear and irreversible pathway towards the creation of a Palestinian state.

Asian markets were mixed as investors parsed the latest developments in the Middle East and monitored oil price movements.

Brent crude futures climbed above $98 a barrel due to continued tensions around Hormuz following reports of American and Israeli strikes on Iranian vessels.

The dollar wobbled amid uncertainty over the U.S.-Iran draft agreement, while gold fell nearly 1 percent to $4,530 an ounce on Fed rate hike bets.

U.S. markets were closed on Monday in observance of Memorial Day.

European stocks rose sharply on Monday, reaching their highest level since their record highs in late February, on signs that the U.S. and Iran may soon agree to a deal to extend ceasefire and reopen the Strait of Hormuz.

The pan-European Stoxx 600 surged 1 percent. The German DAX rallied 2 percent and France's CAC 40 climbed 1.8 percent while the U.K. markets were closed for the Spring Bank Holiday.