European stocks close lower as Trump considers Iran peace proposal, UAE leaves OPEC
European shares closed lower on Tuesday as investors assessed the latest developments in the Iran war and a flurry of corporate earnings reports.
TL;DR
- European stocks closed down 0.3% as investors awaited news on Iran peace proposals and the UAE's exit from OPEC.
- Novartis reported first-quarter earnings with a drop in operating income, while BP's profits more than doubled, beating expectations.
- Barclays reported a pre-tax profit increase and announced a share buyback program, despite a credit-related hit.
- Airbus shares closed slightly higher after an update on its first-quarter performance.
- Investors are monitoring discussions between President Trump and his national security team regarding Iran's peace proposal.
- Bayer is seeking to end Roundup lawsuits at the U.S. Supreme Court, leading to a significant drop in its share price.
- Central banks, including the Fed, ECB, and Bank of England, are holding key meetings this week, with interest rates expected to remain unchanged for now.