Europe open: Shares edge ahead as Iran-US agree peace deal roadmap

22nd Jun 2026 07:48

(Sharecast News) - European shares opened slightly higher on Monday as Israeli attacks on Lebanon continued to threaten the fragile truce between Iran and the US while traders also eyed the latest UK political turmoil surrounding Prime Minister Keir Starmer.

The pan-regional Stoxx 600 index was up 0.08% to 635 at 0822 BST with most major markets higher.

Iran's foreign minister said progress had been made after the first day of talks between officials from Washington and Tehran ended in Switzerland, even as US President Donald Trump threatened to resume attacks and the Iranians said they were closing the Strait of Hormuz again.

A joint statement from mediators Qatar and Pakistan said the ⁠US and Iran agreed a roadmap for a final deal in two months. Technical talks between lower-ranked officials ​would go on for the rest of the week, according to the statement.

Oil prices were lower on the news, with Brent Crude down 1.68% to $79.22 while West Texas Intermediate fell 0.61% to $75.39.

In the UK, Starmer was reportedly preparing to stand down, paving the way for newly re-elected MP Andy Burnham to either take over or fight a leadership battle against former health minister Wes Streeting.

In equity news, shares in easyJet rose as the budget carrier rejected a third bid from private equity outfit Castlelake.

Reporting by Frank Prenesti for Sharecast.com