Market Report - Europe
Europe midday: Shares up despite no progress on US-Iran talks
By Frank Prenesti
Date: Tuesday 21 Apr 2026
(Sharecast News) - European share markets extended morning gains while oil prices slipped on Tuesday as traders eyed the looming ceasefire deadline between Iran and the US with no firm evidence a second round of peace talks was in the offing.
The pan-regional Stoxx 600 index was up 0.23% to 622.92 at 1136 BST. Germany's DAX rose 0.52%, France's CAC 40 fell 0.19% and Italy's MIB gained 0.39%.
It was still unclear as to whether Iran would send officials back to Pakistan for a second round of peace talks after the US on Monday seized an Iranian-flagged cargo vessel it claimed was trying to run its blockade. Iranian state television was reporting that no delegation had left the country, according to the Guardian newspaper.
Meanwhile President Donald Trump continued his threats to resume bombing if Tehran refused to accept a peace deal on his terms.
Oil prices slipped despite the blockade of the Strait of Hormuz, with Brent crude down 0.94% to $94.52 and West Texas Intermediate 1.05% lower at $86.44 a barrel.
"The recent yo-yoing in equity sentiment continues to be driven less by fundamentals and more by swings in oil prices, as investors try to second-guess how Middle East negotiations are progressing," said Hargreaves Lansdown analyst Matt Britzman.
"Fresh talks are pencilled in, but timelines for any lasting agreement remain unclear, leaving investors caught between elevated geopolitical risk and hopes that a workable outcome will ultimately be reached - with markets showing a willingness to price in the latter."
"As earnings season gets underway, that backdrop could translate into a run of solid results paired with cautious outlooks, as executive teams acknowledge the potential impact of higher energy costs without committing too heavily to guidance in an environment where volatility is likely to remain a feature."
On the economics front, confidence among German investors this month sank to its lowest level in more than three years, as firms felt the impact of higher energy prices due to the Iran war.
The ZEW Indicator of Economic Sentiment for Germany fell to minus 17.2 in April compared with minus 0.5 in March.
In equity news, Royal Unibrew tanked by 18% after the Danish beer, soda and energy drinks maker said it was ending its partnership with PepsiCo in northern Europe.
Thales shares were lower despite the weapons maker reporting higher orders for its first quarter, led by its defence business as governments ramp up defence spending in response to the conflicts in Ukraine and the Middle East.
Reporting by Frank Prenesti for Sharecast.com
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