European shares muted as investors eye US-Iran talks

By Reuters News

Sept 22 (Reuters) - European shares were subdued at open on Tuesday, as investors awaited developments on potential US-Iran talks, while oil prices gained for the first time in five sessions.

The pan-European STOXX 600 .STOXX was flat at 642.32 points by 0710 GMT. Most regional bourses were also muted.

Energy stocks .SXEP gained 0.4% tracking a rise in oil prices as investors awaited developments on potential US-Iran talks at the United Nations General Assembly this week after more supplies emerged through the Strait of Hormuz over the weekend. O/R

Retail shares were a bright spot, up 1.3%, boosted by gains in Kingfisher KGF.L after the European home improvement retailer raised its full-year profit guidance after reporting a 9.9% increase for the first half of the year.

On the other hand, insurance shares .SXIP dipped roughly 1%, pressured by losses in ASR Nederland ASRNL.AS and AXA AXAF.PA.

Market participants awaited euro zone consumer confidence data, due later in the day.

Among individual stocks, Italy's Snam SRG.MI was down 0.2%. The gas grid operator announced sale of 10 million Industrie De Nora DNR.MI shares for €67 million ($76.8 million).

Plus500 PLUSP.L was down 4.9%.



($1 = 0.8725 euros)

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