European stocks fell on Monday, as investors assessed stalled negotiations between the United States and Iran, which suggested that the weeks-long disruption to vital oil supply flows would continue.
By 10:02 (Saudi Arabia time), the pan-European Stoxx 600 index and the UK's FTSE 100 were unchanged. Germany's DAX index rose 0.3%, while France's CAC 40 index gained 0.2%.
Over the weekend, US President Donald Trump cancelled sending his negotiators to Pakistan for a new round of talks with Iran, saying Tehran could call him because Washington held all the winning cards.
This impasse points to the continued blockade of maritime activity by both the United States and Iran through the Strait of Hormuz, a vital passage for one-fifth of the world's oil, even with a fragile ceasefire in place.
But Axios reported that Iran has made a new proposal to the United States to reopen the Strait, end the war, and postpone nuclear discussions to a later date.
On the individual stock front, shares of onshore wind turbine group Nordex jumped more than 9% in early trading, driven by first-quarter core earnings that beat estimates.
Forvia also announced it will sell its internal operations to Apollo for €1.82 billion. Shares in the French automotive supplier rose by more than 3%.
