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European Stocks Set for Lower Open Amid Iran Tensions, Diplomatic Uncertainty

European equity markets are poised to decline Thursday as geopolitical tensions overshadow investor sentiment. The Stoxx 600, CAC 40 and FTSE MIB are expected to open in negative territory, tracking weakness across Asia-Pacific. Uncertainty surrounding U.S.-Iran peace negotiations is driving the selloff. Secretary of State Marco Rubio indicated talks have progressed and the administration favors diplomatic resolution. However, President Trump has stated he will not accept Iranian control of the Strait of Hormuz as part of any agreement. Conflicting reports regarding a potential memorandum of understanding on commercial traffic restoration have added uncertainty to the outlook. Fresh U.S. military strikes in Iran on Wednesday increased volatility. Oil prices rose overnight following the developments. European business and consumer confidence data are scheduled for release Thursday, while U.S. markets will await April inflation data.