European stocks rose slightly for the most part on Thursday, as investors assessed reports that the United States and Iran were working to resume negotiations to end their ongoing war.
By 10:10 a.m., the pan-European STOXX 600 index was up 0.1%, Germany's DAX was up 0.1%, and France's CAC 40 was up 0.4%. Britain's FTSE 100 lagged behind, down 0.3%.
According to reports, Washington and Tehran are working with intermediaries to draft a one-page framework for resuming talks aimed at reaching a lasting peace agreement. These discussions are scheduled to begin next week in Pakistan, according to The Wall Street Journal.
The newspaper added that a month-long process will seek to resolve disputes related to Iran's nuclear ambitions and the lifting of sanctions, but fundamental disagreements remain over issues such as uranium enrichment and inspections.
President Donald Trump had indicated that the US military operation against Iran, launched by the United States in coordination with Israel in late February, could be halted if Tehran agreed to deliver what had been agreed upon.
US stock markets jumped sharply on Wednesday amid renewed hopes that the end of the war was imminent.
Oil prices also fell sharply as traders welcomed the prospect of tanker traffic reopening through the Strait of Hormuz, the vital waterway off Iran's southern coast through which roughly a fifth of the world's crude oil production passes. Brent crude futures, the global benchmark, fell 3.7% to $97.92 a barrel on Thursday.
