European stocks mixed as traders assess Iran war latest
European stocks opened in mixed territory on Wednesday as regional traders assess the trajectory of the U.S.-Iran war.
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Traders work on the floor of the New York Stock Exchange during morning trading on April 13, 2026 in New York City.
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LONDON — European stocks opened in mixed territory on Wednesday as traders assess the trajectory of the U.S.-Iran war and the prospect of renewed peace talks.
Shortly after the opening bell, the pan-European Stoxx 600 index was seen trading broadly flat, with regional bourses and sectors painting a mixed picture.
The U.K.'s FTSE 100 index opened 0.2% higher, while France's CAC 40 fell 0.6% in early morning trade. Germany's DAX rose 0.1%.
European luxury brands pulled the French stock market into negative territory on Tuesday as a raft of disappointing earnings weighed on the sector.
Shares in Kering fell 8.5% on Tuesday morning as sales of its largest brand, Gucci, fell below expectations.
The company, which also owns brands Yves Saint Laurent, Bottega Veneta and Balenciaga, also said retail revenue in the Middle East declined by 11% in the first quarter, following growth over the first two months of the year.
The drop in Hermes shares was even steeper, last seen down 12% as currency fluctuations weighed on the firm's sales figures.
The retailer reported that currency fluctuations represented a "significant negative impact" on revenues of around €290 million ($295 million).
LVMH and Christian Dior were also down as the news rippled across the sector.
It follows more positive sentiment in Asia-Pacific and U.S. markets overnight, with oil prices falling amid rising hopes of a diplomatic solution to the Middle East conflict.
A White House official told CNBC on Tuesday that a second round of negotiations between Washington and Tehran was under discussion. Nothing has been officially scheduled yet, the official said, who asked not to be named to discuss the administration's internal plans.
President Donald Trump later told the New York Post that fresh U.S.-Iran talks in Islamabad "could be happening over next two days."
Earnings come from ASML, Hermes International and Antofagasta on Wednesday. On the data front, EU industrial production figures are due later in the day.
— CNBC's Kevin Breuninger contributed to this market report.
